Median of legislators’ projections well below gov’s on state revenues

The Joint Economic Outlook & Revenue Assessment Committee has begun its meeting in the basement auditorium of the state Capitol, and is now hearing from the state’s chief economist, Mike Ferguson. The committee’s draft report - members will vote on their final recommendation today - shows that the median projection from committee members puts state revenues for the current fiscal year at $2.3319 billion, $17.3 million below Gov. Butch Otter’s estimate; for fiscal year 2011, $2.3886 billion, $44.4 million below the governor’s number; and for fiscal year 2012, $2.4646 billion, $181.8 million below Otter’s estimate.