On Tuesday, the House Appropriations Committee amended HB 2387 with a short-term budget totalling nearly $24 billion for FY 2020-2021. CCAP will be providing additional details and analysis here on the Budget News and Updates page as they become available.

In its initial revenue forecast offered on May 26, the IFO projected that response efforts to the COVID-19 pandemic will have a dramatic impact on economic growth for CY 2020 and 2021. FY 2019-2020 revenues will fall short of projected goals by approximately $3.9 billion, including impacts from COVID-19 mitigation efforts. For FY 2020-2021, the IFO is projecting that the state will have about $36.1 billion to spend, an increase of $4.3 billion compared to the current fiscal year, assuming no other changes to programs or funding sources. Additional details can be found in the full report linked below. The IFO's official revenue estimate will be released by June 22.

The House and Senate Appropriations committees begin budget hearings on the Governor's FY 2020-2021 commonwealth budget proposal on Tuesday, February 18. Use the links below to find the full schedules for each committee; many will be shown live on PCN and pcntv.com.