Forecasting board adjusts outlook

The Nebraska Economic Forecasting Advisory Board met on Feb. 29, to review the forecast for the current fiscal year and the next fiscal year. The board increased the previous forecast for fiscal year 2023-2024 by $575 million and decreased the previous forecast for fiscal year 2024-2025 by $525 million, for a total net increase of $50 million over the two-year period. Most of the increase can be attributed to increased receipts from corporate income taxes relative to individual income taxes since the board met last October.

Economic experts advise that the cash reserve fund should equal 12 to...