Don t miss the big stories. Like us on Facebook.
MONTPELIER â The state Emergency Board approved an upgrade in the stateâs revenue forecast for fiscal 2021, as the stateâs economists said the massive injection of federal spending during the COVID-19 pandemic had resulted in healthier than expected revenues through the first six months of the fiscal year.
The board unanimously approved revenue projections of $2.44 billion for fiscal 2021, $2.57 billion for fiscal 2022 and $2.62 billion in fiscal 2023.
The projection is based on what economist Tom Kavet called âa steady progression of above target performance on a number of key and very large tax sources,â as well as the change in administrations in Washington likely to result in additional coronavirus relief dollars.