Transcript Highlights:

• George was such a character and beloved, you know, and smart, wicked smart, you know, as we say on the
• He, as Mitzi pointed out, was whip smart. I knew the budget, upside down and backwards.

Summary: The Senate convened with prayer, the Pledge of Allegiance, roll call, and approval of the prior journal. The President introduced guests from California, then announced committee substitutions and a referral change for Senate Bill 1267, which was withdrawn from Judiciary and Elections and sent to Appropriations, Transportation, and Technology. The chamber then moved through third-reading consent-calendar bills, with several measures on mental health services, special license plates, optometrists, claims relief, Department of Revenue matters, and Attorney General-related provisions. Senate Bill 1112 failed, while Senate Bills 1153, 1242, 1023, 1097, 1210, 1401, 1430, 1452, and 1613 all passed and were transmitted to the House. The Senate also adopted SCM 1003, urging Congress to amend the Constitution to allow states to regulate and limit campaign finance, after debate about money in politics and Citizens United. The chamber then received House Concurrent Resolution 2060, a death resolution honoring former legislator and University of Arizona administrator George Cunningham. The resolution was read in full, adopted unanimously, and signed in open session. The Senate recessed to allow Cunningham’s family onto the floor, where several senators offered personal tributes describing his public service, budget expertise, mentorship, and work with the Grand Canyon Institute and the University of Arizona. After the memorial observance, the Senate resumed briefly for announcements. Committee notices were given for Judiciary and Elections, Rules, and caucuses on the following Monday, while Federalism, Finance, and Military Affairs and Border Security were announced as not meeting. Senator Sears read a legislative proclamation honoring Reverend Jesse Jackson Sr. for his civil rights and economic justice legacy. The Senate then adjourned until Monday, February 23, 2026, at 11:00 a.m.

Transcript Highlights:

• It reinforces transparency, equity, and climate-smart growth, and we ask for your support today.
• relates to eligible subsidiary bodies that has invited questions about whether certain bodies are being locked
• lot of— I won't say it's going to solve the problems because, you know, a thief is going to pick a lock

Summary: The committee first heard SB 753, which would modernize California’s shopping cart recovery rules by allowing cities and counties to return abandoned carts directly to retailers, recover documented retrieval costs, and avoid the current impound-and-wait process. The author and supporters, including San Jose officials and the League of California Cities, said the bill would help clear streets, sidewalks, and waterways and reduce local costs. Grocers and retailers opposed the measure unless amended, arguing it would turn cart retrieval into a new cost burden and could create incentives for cities to charge too much for stolen property. After extensive discussion about notice periods, cost caps, and local ordinances, the committee adopted amendments and passed the bill 6-0 as amended. The committee then took up SB 445, which would speed up permitting and approvals needed for high-speed rail by requiring early engagement, setting rules for third-party coordination, and creating a dispute-resolution process. The author said the bill was narrowed from an earlier, broader transit proposal and was intended to reduce delays caused by utilities, local governments, and other entities. Supporters said permitting bottlenecks add major costs and delays to infrastructure projects, while opponents from utilities, cities, counties, telecoms, and special districts raised concerns about safety, reliability, affordability, and the need to review the pending amendments. The bill passed 8-1 to the Utilities and Energy Committee. The committee also heard SB 9, a narrower housing bill focused on accessory dwelling units. The author explained that it would require local ADU ordinances to be submitted to HCD for review and would make state standards control if a local agency fails to submit a compliant ordinance or respond to HCD findings. Supporters from housing and YIMBY groups said the bill would improve enforcement of state ADU law and prevent local barriers from slowing housing production. There was no opposition, and the bill passed 6-0. The committee then began hearing SB 79, which would allow more housing near major transit stops; the author and supporters framed it as a response to the housing shortage and transit underuse, and the hearing continued with extensive support testimony as the transcript ended.

Transcript Highlights:

• individuals who act in good faith to rescue a domesticated animal such as a dog or cat from a hot-locked
• If there's a way to pop a lock or do something.
• And which one doesn't look very smart right now?

Bills: HB24, HB45, HB15, HB35, HB38, HB47, HB318, HB349, HB554, HB1359, HB1373, HB1647, HB2254, HB2259, HB2853, HB3073, HB3088, HB353, HB355, HB786, HB762, HB705, HB932, HB849, HB 1160, HB 1119, HB1612, HB3041, HB713, HB3104, HB3970, HB3962, HB5061, HB4042, HB4115, HB4490, HB1731, HB1705, HB2607, HB3556, HB138, HB3689, HB1788, HB1887, HB1914, HB2402, HB2306, HB1809, HB2350, HB3000, HB3237, HB3326, HB3211, HB 1056, HB2081, HB2187, HB3092, HB3308, HB3526, HB3750, HB3527, HB4219, HB4230, HB4290, HB5238, HB4804, HB4749, HCR6, HCR12, HCR34, HCR50, HCR55, HCR58, HCR70, HCR71, HCR72, HCR74, HCR75, HCR78, HCR80, HCR93, HCR100, HCR107, HCR116, HCR117, HCR90, SB1806, SB783, SB1271, SB326, SB1637, SB769, SB897, SB1035, SB1706, SB1185, SB1194, SB384, SB1426, SB1468, SB1215, SB1066, SB599, SB1930, SB2065, SB767, SB1619, SB1738, HB1500, HB718, HB23, HB34, HB 119, HB 128, HB 130, HB132, HB2756, HB166, HB406, HB186, HB331, HB380, HB1583, HB1584, HB621, HB303, HB552, HB366, HB463, HB 1211, HB1327, HB1461, HB923, HB1760, HB2467, HB5333, HB1592, HB1576, HB1552, HB2018, HB3511, HB1781, HB2013, HB2340, HB2508, HB2970, HB865, HB2851, HB3385, HB3336, HB3309, HB 1127, HB 1232, HB1397, HB4236, HB4041, HB1965, HB2730, HB3698, HB3699, HB163, HB201, HB272, HB405, HB519, HB654, HB694, HB791, HB 1136, HB 1240, HB 1266, HB 1275, HB1437, HB1532, HB1675, HB1842, HB1868, HB1894, HB1943, HB1990, HB2029, HB2061, HB2286, HB2523, HB2622, HB2652, HB2692, HB2842, HB2885, HB3016, HB3096, HB3248, HB3255, HB3479, HB3611, HB3623, HB3803, HB3804, HB3805, HB3806, HB3810, HB3816, HB4129, HB4163, HB4187, HB4238, HB4454, HB4588, HB4643, HB4738, HB4739, HB4945, HB5015, HB5616, HB1749, HB1775, HB 118, HB1762, HB2520, HB24, HB45, HB15, HB35, HB38, HB47, HB318, HB349, HB554, HB1359, HB1373, HB1647, HB2254, HB2259, HB2853, HB3073, HB3088, HB353, HB355, HB786, HB762, HB705, HB932, HB849, HB 1160, HB 1119, HB1612, HB3041, HB713, HB3104, HB3970, HB3962, HB5061, HB4042, HB4115, HB4490, HB1731, HB1705, HB2607, HB3556, HB138, HB3689, HB1788, HB1887, HB1914, HB2402, HB2306, HB1809, HB2350, HB3000, HB3237, HB3326, HB3211, HB 1056, HB2081, HB2187, HB3092, HB3308, HB3526, HB3750, HB3527, HB4219, HB4230, HB4290, HB5238, HB4804, HB4749, HCR6, HCR12, HCR34, HCR50, HCR55, HCR58, HCR70, HCR71, HCR72, HCR74, HCR75, HCR78, HCR80, HCR93, HCR100, HCR107, HCR116, HCR117, HCR90

Keywords: zoning, public notice, local government, residential development, protests, peer support, first responders, mental health, confidentiality, emergency services, information network, health services, client referral, data privacy, disaster preparedness, accreditation, community services, sexual assault, victim rights, forensic examination

Transcript Highlights:

• Conversely, the most expensive. confinement, the most expensive thing that counties do is lock people
• House Bill 1747 is a smart, cost-conscious. against his approach to public health challenges, with strong
• there is. rounding up of undocumented people here there are U.S. citizens being rounded up and being locked

Bills: HB5141, HB4638, HB2264, HB2035, HB4813, HB4408, HB2684, HB1621, HB2300, HB216, HB3829, HB4466, HB1747, HB2284, HB3614, HB2587, HB3219, HB3318, HB5147, HB4014, HB216

Keywords: lease, state property, public purpose, Travis County, Health and Human Services, pharmaceutical initiative, drug distribution, healthcare services, generic drugs, advanced pharmaceuticals, cost savings, mental health, patient discharge, medical records, health care professionals, substance use, family involvement, chemical dependency, treatment facilities, minor admissions

Transcript Highlights:

• And basically, they can lock in those claiming percentages for four years.
• But in a universal meals scenario state, this is a way for us to get their claiming percentage locked
• CEP again because it's not financially sustainable for them, but in a future scenario where we could lock

Keywords: 908, all

Transcript Highlights:

• And basically, they can lock in those claiming percentages for four years.
• But in a universal meals scenario, this is a way for us to get their claiming percentage locked in for
• CEP again because it's not financially sustainable for them, but in a future scenario where we could lock

Summary: The Legislative Management Committee met to fill a vacancy created by Representative Jared Hagert’s resignation, and the House majority recommended Representative Berg to replace him on the committee. The motion to appoint Berg was approved unanimously. The committee then took up its assigned task of estimating the fiscal impact of Initiated Constitutional Measure No. 3, the school meals measure, which would require public schools, and optionally nonpublic and tribal schools, to provide breakfast and lunch at no cost to students and reimburse schools through state funds after federal reimbursements are maximized. Legislative Council’s Liz Fordall summarized the measure’s requirements and answered questions about implementation, including the 2027-28 start date, the measure’s interaction with the Legacy Earnings Fund, and the fact that the Legislature would still control the funding source. DPI’s Linnell Johnson then testified at length on current school meal programs, direct certification, CEP and Provision 2 participation, and likely behavioral changes if the measure passed. She estimated the biennial fiscal impact at $124 million to $134 million, with an additional roughly $300,000 in administrative costs, and explained that the estimate assumed higher participation and some schools shifting to CEP/Provision 2 to preserve federal reimbursements. She also noted that if no new applications were filed in non-CEP schools, the cost could be substantially higher. After discussion, Senator Sorvaag moved to report a fiscal impact range of $124,300,000 to $134,300,000 per biennium to the Secretary of State, and the motion carried. The committee also received an informational update from Legislative Council attorney Dustin Richard on the ongoing redistricting litigation, explaining that the U.S. Supreme Court vacated the Eighth Circuit’s prior ruling and remanded the case for further consideration in light of Louisiana v. Callais, leaving the court-imposed map in effect for now. No action was required on that item, and the meeting adjourned after a brief note that the prior minutes would be brought back at a later meeting.

Transcript Highlights:

• dingy, cramped, and chaotic waiting space for about 30 minutes, we were brought through two different locked
• dingy, cramped, and chaotic waiting space for about 30 minutes, we were brought through two different locked
• who reminded me of my own daughters, was facing a very painful, life-threatening health situation, locked

Keywords: 918, senate, all

Summary: The meeting focused on the detention of Andrea Pedro Francisco, a 23-year-old Burnsville resident and Minnesota constituent who was detained by ICE and transferred from Camp East Montana in El Paso to the El Paso Processing and Detention Center while awaiting surgery for a large ovarian cyst. Senator Lindsey Port, Congresswoman Angie Craig, and Senator Alese Matson argued that she has been denied adequate medical care, receiving only Tylenol and constipation medication despite an emergency room confirming she needs surgery. They said the delay could lead to severe pain, bleeding, loss of fertility, infection, or death, and repeatedly called for her immediate release on humanitarian parole. Pastor Ellery Deikman described visiting Andrea in detention with other clergy and her lawyer, saying she appeared thin, in pain, and deeply distressed, though she brightened when told people in Minnesota were praying for her. He and others framed her situation as a humanitarian and human rights issue, criticizing the detention system as punitive and for-profit. Senator Matson, who is also a physician, explained that the standard treatment for a cyst of this size would be surgery and that waiting is medically dangerous. Participants also said Andrea had been in detention for close to 80 days, had limited access to legal and medical records, and had been separated from family and faith community. The speakers tied Andrea’s case to broader concerns about immigration enforcement under the current administration, saying detentions and arrests have increased sharply and that many detainees have no criminal record. Vicki Schmidt of Abriendo Fronteras said detention numbers and costs have risen, conditions are often inhumane, and many people are being held in for-profit facilities. She and others urged support for HR 7335, the Humanitarian Standards for Individuals in ICE and CBP Custody Act, and called on DHS to grant Andrea parole immediately. In the question-and-answer portion, the physician-senator reiterated that surgery is the only treatment, that the condition could worsen at any time, and that prior practice generally allowed asylum seekers to remain in the community while their cases proceeded if they were not a danger.

Transcript Highlights:

• But what I'm saying is as we get into tough budget years, you have to be really careful about locking
• Whenever you take something off of a sweep, you essentially lock that money into that fund until another
• I just think we need to be very careful of what we lock our money into. I do too.

Summary: The committee first heard House Bill 2896, sponsored by Rep. Brown, which would change how boards of governors for state universities are selected. Brown said the bill, developed with input from the governor’s office, would simplify appointment rules by removing service-area and congressional-district requirements and instead limiting board membership so no more than half of the voting members come from the county where the institution is located, with a St. Louis exception. Members asked about Missouri residency requirements, the effect on Missouri State University and Southeast Missouri State University, and whether university presidents would recommend candidates to the governor. Brown said he would follow up on questions and was open to discussing possible adjustments, especially regarding geographic representation. One witness spoke in favor, arguing that boards should reflect a cross-section of the state. No opposition was presented, and the hearing on HB 2896 was closed. The committee then took up House Bill 1659, the Missouri Defense and Energy Independence Act, sponsored by Rep. Steinmeyer. The bill would create a grant program to help Missouri manufacturers convert facilities to produce strategic materials tied to national defense and energy resilience. Steinmeyer described it as a private-capital-first program requiring at least $500,000 in private investment, with grants capped at $1 million per project per year, subject to appropriation, annual reporting, and repayment provisions if projects fail. He said the bill is intended to attract investment, create jobs, and strengthen supply chains while keeping taxpayer risk limited. Members raised concerns about environmental and public safety risks, the bill’s placement in the higher education committee, whether it should instead be funded federally, and whether the program would mainly benefit large companies rather than small businesses. Questions also focused on the bill’s workforce-development component, the lack of detail on training and public-health protections, and the budget impact of creating a dedicated fund that would retain money and interest rather than sweep it to general revenue. Steinmeyer said the bill is meant to support existing Missouri companies or companies establishing headquarters in Missouri, and that universities had been involved in discussions about workforce needs. A representative from the API Innovation Center testified in favor, saying the bill could help develop key starting materials for pharmaceuticals and support reshoring. One witness testified in opposition, arguing the state should not subsidize private industry and warning about fiscal strain and environmental oversight. No vote was taken, and the hearing concluded without further action.

Transcript Highlights:

• And trying to lock in a tax status that may not be relevant as the climate changes and as the things
• I just—it hits me that locking that in is probably not a good idea, since we can't control what's going
• Again, I appreciate you taking on a very hard issue, but I am very concerned about locking in a tax under

Keywords: 996, all

Transcript Highlights:

• So, hazard mitigation grant program: we get 20% of the one-year lock-in of individual assistance obligated
• So, hazard mitigation grant program: we get 20% of the one-year lock-in of individual assistance obligated
• So again, going back to a previous slide, we get 20% of the one-year lock-in.

Summary: The Committee on Community Affairs met with a quorum present and heard two hurricane-recovery presentations focused on Florida’s response and long-term recovery efforts. Kevin Guthrie, Executive Director of the Florida Division of Emergency Management, reviewed response and recovery operations for Hurricanes Debby, Helene, and Milton, including meals, water, sheltering, search and rescue deployments, power restoration, debris removal, flood-control efforts, and generator distribution. He also described ongoing public assistance and mitigation funding, the state’s FROC system for standardizing and speeding reimbursement documentation, and the Elevate Florida residential mitigation program, which will use about $400 million to elevate or reconstruct eligible flood-insurance properties and may expand to county-run programs. Senators asked about manufactured homes, school shelter hardening, mobile home tie-downs, reimbursement for USAR teams, debris hauling, regional sheltering, and FEMA review delays; Guthrie said the state is trying to move recovery faster and more proactively, while acknowledging some limits and federal bottlenecks. The committee then heard from Justin Domer, Deputy Secretary of Community Development at Florida Commerce, on HUD Community Development Block Grant Disaster Recovery programs. He explained that Commerce administers long-term recovery funds through its Office of Long-Term Resiliency for housing, infrastructure, and economic development, with funds used as a last resort after FEMA and insurance. Domer outlined the process for the most recent $925 million allocation covering multiple disasters, including Idalia, Debby, Helene, Milton, Broward flooding, and North Florida tornadoes, and said the state currently manages about $3.4 billion in DR funds, rising to over $4 billion with the new allocation. He highlighted completed and ongoing housing programs for Hurricane Irma, Michael, and Ian, plus workforce recovery programs and subrecipient infrastructure grants. Senators asked about Broward and Fort Lauderdale funding, homeowner turnaround times, and mobile home eligibility; Domer said Broward and Fort Lauderdale will have separate HUD-directed programs, and the committee adjourned after the presentations and questions.

Transcript Highlights:

• :58:45.360><c> seeks</c><04:58:45.760><c> to</c> So I hope you see the direct connection between a smart
• direct connection So I hope you see the direct connection between between between a<04:59:34.080><c> smart
• c> to</c><04:59:34.878><c> decarbonize</c><04:59:35.840><c> our</c><04:59:36.160><c> economy</c> a smart
• way to decarbonize our economy a smart way to decarbonize our economy um<04:59:38.638><c> in</c><04:
• remind everyone here that due to the fact that this building closes at 5:00 and the doors automatically lock

Keywords: 1189, house, all

Transcript Highlights:

• Vice Chairman Lock. >> Thank you, Mr. Chairman.
• Representatives Brown, Campbell, Lean, Lock, Lucas, Riggins, Storer, Styvar, and Warf voted aye.
• Chairman Lock, you've heard the reading of the bill. What is your pleasure? Thank you, Mr.
• </c> Representatives Brown Campbell Lean Lock Representatives Brown Campbell Lean Lock Lucas<00:44:15.520
• </c><00:44:19.040><c> chairman</c> Chairman Lock, you've heard the reading of the bill.

Keywords: 916, all

Transcript Highlights:

• To help these folks instead of just locking them up more or less or doing things like that, we actually
• And instead of just locking. Somebody up per se for something on this measure.

Keywords: 914, all

Transcript Highlights:

• detail, allowing the sheriff, the constable to collect compensation fees if they've got to change locks
• , if they've got to, um, stand by the property while the owner is changing locks to secure the property

Transcript Highlights:

• more detail, allowing the sheriff or constable to collect compensation fees if they have to change locks
• . ...if they’ve got to stand by the property while the owner is changing locks to secure the property

Keywords: 1184, house, all

Transcript Highlights:

• Secretary lock the board and record the vote. Secretary: 38 yays, zero nays Mr. President. Sen.
• Secretary: Lock the board and record the co-introducers. 38 co-introducers Mr. President. Sen.

Keywords: 998, house, all

Transcript Highlights:

• Secretary, lock the board and record the vote. >> 38 yays, zero nays, Mr. President. >> Sen.
• Lock the board and record the co-introducers. 38 co-introducers, Mr. President. >> Sen.

Bills: SJR18, SCR9, SCR13, SB10, SB11, SB19, SB20, SB25, SB62, SB260, SB263, SB293, SB314, SB384, SB412, SB441, SB442, SB494, SB523, SB569, SB616, SB688, SB707, SB766, SB842, SB869, SB890, SB914, SB929, SB971, SB992, SB1066, SB1145, SB1621, SJR36, SJR18, SCR9, SCR13, SB616, SB565, SB384, SB372, SB495, SB842, SB971, SB1066, SB929, SB765, SB523, SB62, SB19, SB18, SB666, SB688, SB707, SB888, SB687, SB706, SB847, SB869, SB890, SB992, SB1145, SB494, SB290, SB766, SB11, SB10, SB13, SB263, SB412, SB20, SB441, SB442, SB1621, SB569, SB314, SB25, SB293, SB914, SB260, SB1248, SB740, SB14, SB1006, SB20, SB25, SB260, SB293, SB314, SB384, SB442, SB494, SB616, SB869, SB890, SB929, SB992, SB1145, SB1621, SR232, SR237, SR242, SB16, SB22

Keywords: capital gains, taxation, constitutional amendment, state revenue, individual investment, Supreme Court, judicial independence, Keep Nine, checks and balances, water rights, treaty compliance, Rio Grande, agriculture, drought, international water, Texas water supply, education, Ten Commandments, public schools, religious display

Transcript Highlights:

• I think it's a smart proposal to really hit a pause on all of this.
• So this is why I think Senator Kanzanarian Fitzpatrick's bill is so smart to contract with someone independently
• So I think this is really smart.
• So I think it's smart legislation. I've had a battery fire in my district.

Keywords: 993, senate, all

Summary: The Senate Standing Committee on Energy and Telecommunications considered a large agenda focused mainly on energy affordability, the CLCPA, utility rates, and renewable energy siting. Senator Mattera and other Republican members argued that the Climate Leadership and Community Protection Act has driven up utility bills, harmed reliability, and imposed costs on ratepayers, while Democratic members pushed back that rising costs are also driven by natural gas markets, infrastructure costs, and broader economic factors. Several bills sought to repeal or pause CLCPA-related policies, create a CLCPA task force, impose studies or moratoriums on new energy taxes and fees, and increase transparency around utility surcharges and state energy spending. Supporters framed these measures as ratepayer relief and accountability; opponents said some proposals would undermine clean-energy policy and existing consumer-benefit programs. The committee defeated S.1167, which would have repealed the All Electric Building Act, and S.1173, which would have created a CLCPA task force. It also failed S.5250, a bill to study CLCPA costs and impose a moratorium on new energy taxes, fees, or regulations, and S.7075, which would have prohibited the system benefits charge on utility bills. Several other bills advanced, including S.1236A on virtual access and electronic filing for Public Service Commission proceedings, S.1552 establishing reduced residential rates for low-income electric and natural gas customers, S.2484 directing a study of replacement timeframes for battery storage and renewable facilities, S.2638 on carbon allowance auction proceeds, S.3247 on electric vehicle charging stations, S.3553 requiring utilities to post promotional and educational materials on their websites, S.4571A creating a floating solar incentive education program, S.5518 shifting Public Service Commission funding to legislative appropriation, and S.6412A requiring itemized ratepayer disclosure of surcharges. S.9251, on labor-related legal costs, was referred to the Labor Committee. S.7710, which would have restricted energy storage systems near schools and homes in New York City, failed after concerns and support were debated. The committee adjourned after completing the agenda.

Transcript Highlights:

• We have to be smart, but we also have to make sure that job creators and job providers can do what they
• We have to be smart,<00:09:12.720><c> but</c><00:09:12.959><c> we</c><00:09:13.200><c> also</c><00:09
• :13.600><c> have</c><00:09:13.760><c> to</c><00:09:13.920><c> make</c><00:09:14.160><c> sure</c> smart
• , but we also have to make sure smart, but we also have to make sure that<00:09:14.959><c> job</c><00

Keywords: 1183, house

Transcript Highlights:

• bills is assumed to pull additional income and disposable income for individuals, as we have now locked
• as we have now locked in the tax<00:09:33.279><c> rates</c><00:09:33.760><c> that</c><00:09:34.000><
• in the tax rates and larger tax locking in the tax rates and larger tax refunds. >> Just follow up.
• But locking in the fact sales years.
• But locking in the fact that<02:36:42.160><c> we</c><02:36:42.399><c> will</c><02:36:42.560><c> not</

Keywords: 958, all

Summary: The meeting focused on reaching consensus on official Kentucky revenue estimates for fiscal years 2026 through 2028, using updated S&P Global economic forecasts compared with the September presentation. Staff explained that the updated forecast relied partly on alternative data because of the federal government shutdown, and they walked through changes in national and Kentucky economic assumptions across control, optimistic, and pessimistic scenarios. The control forecast was described as slightly more optimistic in the near term but more cautious in fiscal 2027 and 2028, with GDP growth revised up for the current year and down somewhat in the outer years. The pessimistic scenario now assumed a two-quarter recession beginning in the current quarter, while the optimistic scenario was given a higher probability weight than before. The presenters highlighted several Kentucky-relevant variables that changed since September, including weaker manufacturing employment, weaker housing starts, weaker consumer sentiment, and lower expected non-farm employment in fiscal 2026. At the same time, wage and salary disbursements were revised upward in fiscal 2027, reflecting higher disposable income from tax changes, and real consumer spending was expected to be stronger in the near term. They also discussed assumptions about tariffs, business profits, the Federal Reserve, unemployment, oil prices, retail sales, vehicle sales, exports, and consumer sentiment, noting that some indicators were little changed while others shifted materially. Consumer sentiment was attributed to affordability concerns, tariff impacts, and a general sense of malaise, but was expected to improve in later years from a low base. Members asked follow-up questions about why the forecast worsened in later years and about the consumer sentiment assumptions. Staff responded that the forecast assumed larger take-home pay and refunds from tax withholding changes, along with some easing of tariff effects, which they believed would help offset a negative wealth effect from stock market declines. They also noted that S&P Global’s December forecast, which had already been published, was essentially consistent with the presentation and that the firm believed its earlier assumptions had tracked recent data well. No vote or final action was recorded in the portion provided, but the discussion was aimed at settling the revenue estimates that will underpin the upcoming branch budget bills.