Gov. Pillen Remarks on Revenue Forecast Update

NEBRASKA, February 27 - CONTACT:

Laura Strimple, (402) 580-9495

 Gov. Pillen Remarks on Revenue Forecast Update

LINCOLN, NE – The Nebraska Economic Forecasting Advisory Board (NEFAB) voted today to add $20 million to the current fiscal year revenue projections for General Fund receipts.

Additionally, the Forecasting Board decreased projected revenue receipts by $175 million for the upcoming Fiscal Year 2026-2027. Together, the net impact takes $155 million from this biennium that will need to be addressed to support a balanced and conservative state budget. This represents only a 1.1% reduction in the biennium’s revenue projections.

“Nebraska’s economy is strong and resilient,” said Governor Jim Pillen. “Today we have a great opportunity to be strong fiscal conservatives. I am looking forward to working with the Legislature to respond to updated projections like all Nebraskans do and tighten our belts to reduce government spending and support more efficient and focused outcome-based approaches to running government.”