2014 state budget signals economic rebound

2014 state budget signals economic rebound

2014 state budget signals economic rebound

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by Associated Press

KTVB.COM

Posted on January 11, 2013 at 11:16 AM

Updated Monday, Oct 21 at 8:54 AM

BOISE -- In another sign that Idaho's economy is recovering from the 2008 Great Recession, Idaho lawmakers decided Gov. C.L. "Butch" Otter's tax revenue forecast for the coming fiscal year isn't too optimistic.

The Economic Outlook and Revenue Assessment Committee voted 14-4 Tuesday to support Otter's estimate of 2014 revenue of $2.8 billion.

The vote reflects optimism that Idaho's economy is on the rebound.

It also leaves plenty of financial wiggle room to pay for Otter's proposal to use $20 million to fund personal property tax relief and to put $35 million in savings accounts.

More-pessimistic lawmakers said they worried adopting Otter's number -- while only a recommendation to budget writers who will be crafting the spending plan for the year starting July 1 -- will leave them scrambling in future years.

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