Lawmakers on a state forecasting panel are looking back and looking ahead, hearing from top staff about the current and upcoming fiscal years. Speaking of the fiscal year that starts July 1, “The forecast is for $35.081 billion. That represents an increase of $800 million, or about 2.3 percent, over the (Fiscal Year 2013) estimate,” says COGFA revenue manager Jim Muschinske.
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“Unfortunately, most views are that (in) Fiscal Year 14, we’ll continue to be saddled with struggling employment gains and overall unspectacular economic performance.” Muschinske says sales tax revenue indicates consumers are not, pardon the pun, buying into the idea of a recovery.