Sharply dropping fuel prices are expected to provide a big boost to Vermont's economy, but the near-term forecast for state revenues is still cloudy.
Tom Kavet and Jeff Carr, the two economists who advise the Legislature and the administration, delivered their twice-yearly revenue forecast on Tuesday.
Revenues are still expected to drop $10 million below previous forecasts for the current fiscal year, and nearly $19 million below previous forecasts for fiscal 2016, which starts July 1.
Carr and Kavet attribute that to volatile corporate income and to some technical issues involving some high-income taxpayers.
Governor Peter Shumlin, who delivered his annual budget address last week, says he will work with lawmakers to adjust to the new numbers.
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