Sen. Fazio Statement on Consensus Revenue Forecast
January 15, 2025

Sen. Ryan Fazio, Ranking Senator on the Finance, Revenue and Bonding Committee, issued the following statement on the January 2025 consensus revenue forecast.
“The nearly $340 million in suddenly discovered investment income from the federal ARPA grant raises questions that require answers and full transparency. Why was all of this interest income not known by the state for four years since it began accumulating? Was it properly accounted for or not? These are substantial amounts of taxpayers’ dollars and they deserve clarity.
What remains without question in light of today’s revenue report is that the fiscal guardrails that Republicans fought to implement are working and saving taxpayers billions.
They have helped to control government spending. They are paying down on the state’s debt.
That’s why even the spirit of the fiscal guardrails must not be violated.”