Thread by @RileySnyder

How it feels coming back from vacation to immediately jump into coverage of the Economic Forum -->

(Follow @MichelleRindels and I for updates)

#EconomicForum update - state's Department of Taxation estimates that it will take until 2022 at earliest for state's sales/use tax to recover to pre-pandemic levels. (Sales/use is the largest tax source for state budget)

Another interesting set of slides - without another federal stimulus package, NV's Exec Budget office estimates that sales tax recovery won't hit pre-pandemic levels until 2023 (recovers much quicker under 'baseline' $1 trillion stimulus package sometime next year)

#EconomicForum approves $2.489 billion projection for state's 2% sales and use tax revenue over the next two years.

In 2018 at same point, Forum approved a $2.6 billion project for sales/use tax over two year budget cycle.

The numbers used for this tax revenue projection were a little different than numbers in packet - Forum used an average of "baseline" ($1 trillion stimulus) and no stimulus scenarios estimated by budget division.

This is essentially a hedge - Congress hasn't passed a stimulus package yet and final number isn't known, but all EF members expect something to pass.

Remember that Forum will meet again in May to approve final tax #s

#EconomicForum approves a $1.014 billion estimate for the state's Insurance Premium Tax over the next two fiscal years.

2018 projection was $950 million over two-year budget cycle.