State revenue growth estimated at 3 percent

The Appropriations Committee advanced their finalized recommendations for the Fiscal Year 2021-22 and 2022-23 biennial budget to the full Legislature. First-round debate took place this past week and all bills were advanced unanimously except LB383, dealing with capital construction. Under the $9.7 billion biennial budget proposal, the two-year average estimated revenue growth is 3.0%, whereas the two-year average growth in spending is just 1.6%. The committee was able to control the growth of spending due to a higher federal match for Medicaid, a lower than expected increase in the formula fo...