LINCOLN- A slight drop in state tax receipts was not enough to convince the Nebraska Economic Forecasting Advisory Board to adjust its optimistic revenue forecast from four months ago. The board voted unanimously to maintain the previous revenue forecast that was set last October. The October forecast increased Nebraska's revenue projections for the next two fiscal years by roughly $1.8 billion, bringing the anticipated revenue for both years to more than $13 billion.

Officials from the State Department of Revenue and the Legislative Fiscal Office projected a slight drop in general fund revenues of about 1% for the current fiscal year, amounting to about a $100 million decrease. This is believed to be largely due to a decline in sales and individual income tax revenues, which were responsible for state tax collections between November and January being roughly 1.5% lower than projections.

Despite the drop, multiple board members said they were optimistic that Nebraska was in good shape to handle the slight downturn. "I think we'll be able to weather this storm," said board member Leslie Andersen. The lack of change came as no surprise to State Sen. Robert Clements of Elmwood, chair of the Legislature's Appropriations Committee, who said he expected the projections would remain flat.

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