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The Nevada Independent

Susanna Powers

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With faster-than-expected recovery, Nevada projected to have $586 million more to spend in next two years

The revised forecast is a marked improvement from the Economic Forum’s last revenue forecast from December, when the five-member panel of appointed economists and analysts projected general fund revenues of $8.5 billion over the next two years — down about half a billion dollars from the prior budget cycle. This time, the Forum projected $4.4 billion in the fiscal year that starts in July, and $4.7 billion for the following fiscal year, for a total of $9.1 billion in the next biennium — a $586 million upward revision.

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Economic Forum: Sisolak, lawmakers will have $8.8 billion to craft state budget

The $8,834,900,000 revenue figure comes courtesy of the state’s Economic Forum, which projected on Monday a 7.2 percent increase in state tax revenue over the next two years and also assumed an economic slowdown — but not a full-blown recession — sometime before 2021. The forum consists of a five-member panel of economists appointed by the governor and legislative leaders charged with forecasting revenue for the state’s two-year budget cycles.

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