The Legislature’s budget writers have a fresh problem they likely welcome: What to do with an additional $1.4 billion? The fresh money arrived Wednesday morning in the form of the February forecast from the Economic and Revenue Forecast Council.
The state’s fiscal outlook has been steadily brightening since lawmakers adopted the current two-year budget last March. Wednesday’s forecast is about $5 billion larger than the forecast used to write that budget. And that doesn’t count more than $1 billion in unspent federal COVID relief that we like to call Uncle Joe’s Pile of Cash (UJPoC).