Gov. Pillen Comments Following Meeting of the Economic Forecasting Advisory Board

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Gov. Pillen Comments Following Meeting of the Economic Forecasting Advisory Board

LINCOLN, NE - The Nebraska Economic Forecasting Advisory Board (NEFAB) voted today to add $23.2 million to the current fiscal year revenue projections for General Fund receipts.

Additionally, the Forecasting Board decreased projected revenue receipts by $89.6 million for the upcoming Fiscal Year 2027-2028, and by $276.3 million for the following Fiscal Year 2028-2029. Together, these decreases account for $342.7 million that will need to be addressed to support a balanced state budget over the next three years.

"The foundations of Nebraska's economy are stable and resilient," said Governor Jim Pillen. "We must have the courage to reduce the size of government instead of growing it. Just like ordinary Nebraskans, state government must live within its means. Today's forecast means we have about $393 million per year to solve for over the next three years. We have some tough decisions ahead, but working together with Nebraskans and the Legislature, we can balance the budget, live within our means, and deliver better government for our taxpayers."