Video & Transcript : 'surplus requirements' :
Page 170 of 500
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Ways and Means Mar 9th, 2026
Joint Committee on Ways and Means
Transcript Highlights:
- DEP has put out guidance on Title V and sewer/septic requirements for ADUs.
- And our requirement is at least once a month.
- Right now, two stairwells are required.
- Required.
- That has that local housing authorities are requiring $10,000 or less in repairs.
Committee:
Joint Joint Committee on Ways and Means
MN
Minnesota 2025-2026 Regular Session
House Floor Session 5/13/26 - Part 2
Minnesota House Floor Meeting
Transcript Highlights:
- You know, uh, it was just two years ago that this body irresponsibly spent an $18 billion budget surplus
- You know, uh, it was just two years ago that this body irresponsibly spent an $18 billion budget surplus
- </c><01:31:44.080><c> This</c> federal personnel requirements. This federal personnel requirements.
- But what's required when you have a topic like this is to listen and try and understand where the people
- They're not required to have medical practitioners at crisis pregnancy centers.
NM
New Mexico 2026 Regular Session
House - Chamber Meeting Feb 12th, 2026 at 04:58 pm
New Mexico House Floor Meeting
Transcript Highlights:
- Public Affairs Committee substitute for Senate Bill 20: An act relating to insurance, applying the requirements
- Public Affairs Committee substitute for Senate Bill 20: An act relating to insurance, applying the requirements
- Senate Bill 21, introduced by Senator Stefanics and others, an act relating to health insurance requiring
- Safety Act, providing limitations on the sharing of automated license plate reader information and requiring
- amendments. and restructure the existing broadband program, making conforming and clean up amendments, requiring
Bills:
HB111 , HB108 , HB145 , HB164 , HB291 , HJR6 , HR1 , HB63 , HB64 , HB165 , HB184 , HB200 , HB4 , HB7 , HB20 , HB65 , HB66 , HB80 , HB88 , HB96 , HB166 , HB285 , HB295 , HB306 , SB29 , SB37 , HJM2 , HJM3 , HJM1 , HM7 , HM17 , HM4 , HM22 , HM23 , HM24 , HM26 , HM2 , HM16 , HM32 , HM13 , HM47 , HM20 , HM51 , HM1 , HM31 , HM35 , HM36 , HM46 , HM53 , HM54 , HM11 , HM14 , HM21 , HM34 , HM50
Keywords:
water law, state engineer, civil penalty, compliance order, water rights, overdiversion, illegal diversion, groundwater storage and recovery, well license, permit violation, water enforcement, New Mexico water code, irrigation district, conservancy district, water diversion, unauthorized water sales, measuring device, district court appeal, water resources, water compliance
NM
New Mexico 2026 Regular Session
House - Chamber Meeting Part 2 Feb 12th, 2026 at 12:58 pm
New Mexico House Floor Meeting
Transcript Highlights:
- We don't know everything that's going to happen and all that's going to be required from us.
- We don't know everything that's going to happen and all that's going to be required from us.
- changes have introduced administrative complexity related to verification, timing, and eligibility requirements
- So it requires prior notice.
- It requires that it gives me the right to a hearing, and then I probably better stop. Mr.
Bills:
HB111 , HB108 , HB145 , HB164 , HB291 , HJR6 , HR1 , HB63 , HB64 , HB165 , HB184 , HB200 , HB4 , HB7 , HB20 , HB65 , HB66 , HB80 , HB88 , HB96 , HB166 , HB285 , HB295 , HB306 , SB29 , SB37 , HJM2 , HJM3 , HJM1 , HM7 , HM17 , HM4 , HM22 , HM23 , HM24 , HM26 , HM2 , HM16 , HM32 , HM13 , HM47 , HM20 , HM51 , HM1 , HM31 , HM35 , HM36 , HM46 , HM53 , HM54 , HM11 , HM14 , HM21 , HM34 , HM50
Keywords:
water law, state engineer, civil penalty, compliance order, water rights, overdiversion, illegal diversion, groundwater storage and recovery, well license, permit violation, water enforcement, New Mexico water code, irrigation district, conservancy district, water diversion, unauthorized water sales, measuring device, district court appeal, water resources, water compliance
NM
New Mexico 2026 Regular Session
House - Chamber Meeting Feb 12th, 2026 at 11:20 am
New Mexico House Floor Meeting
Bills:
HB111 , HB108 , HB145 , HB164 , HB291 , HJR6 , HR1 , HB63 , HB64 , HB165 , HB184 , HB200 , HB4 , HB7 , HB20 , HB65 , HB66 , HB80 , HB88 , HB96 , HB166 , HB285 , HB295 , HB306 , SB29 , SB37 , HJM2 , HJM3 , HJM1 , HM7 , HM17 , HM4 , HM22 , HM23 , HM24 , HM26 , HM2 , HM16 , HM32 , HM13 , HM47 , HM20 , HM51 , HM1 , HM31 , HM35 , HM36 , HM46 , HM53 , HM54 , HM11 , HM14 , HM21 , HM34 , HM50
Keywords:
water law, state engineer, civil penalty, compliance order, water rights, overdiversion, illegal diversion, groundwater storage and recovery, well license, permit violation, water enforcement, New Mexico water code, irrigation district, conservancy district, water diversion, unauthorized water sales, measuring device, district court appeal, water resources, water compliance
NM
New Mexico 2026 Regular Session
House - Chamber Meeting Part 2 Feb 12th, 2026
New Mexico House Floor Meeting
Transcript Highlights:
- step into these roles, we don't know everything that's going to happen and all that's going to be required
- changes have introduced administrative complexity related to verification, timing, and eligibility requirements
- So it requires prior notice.
- It requires that it gives me the right to a hearing, and then I probably better stop. Mr.
Bills:
HB111 , HB108 , HB145 , HB164 , HB291 , HJR6 , HR1 , HB63 , HB64 , HB165 , HB184 , HB200 , HB4 , HB7 , HB20 , HB65 , HB66 , HB80 , HB88 , HB96 , HB166 , HB285 , HB295 , HB306 , SB29 , SB37 , HJM2 , HJM3 , HJM1 , HM7 , HM17 , HM4 , HM22 , HM23 , HM24 , HM26 , HM2 , HM16 , HM32 , HM13 , HM47 , HM20 , HM51 , HM1 , HM31 , HM35 , HM36 , HM46 , HM53 , HM54 , HM11 , HM14 , HM21 , HM34 , HM50
Keywords:
water law, state engineer, civil penalty, compliance order, water rights, overdiversion, illegal diversion, groundwater storage and recovery, well license, permit violation, water enforcement, New Mexico water code, irrigation district, conservancy district, water diversion, unauthorized water sales, measuring device, district court appeal, water resources, water compliance
Summary:
The House spent much of the meeting on recognitions and tributes, including remarks supporting New Mexico’s dairy industry, honoring Gadsden Independent School District educators and students, recognizing Broadband Day at the Capitol, and celebrating the retirement of Representative Susan Herrera. Members from both parties praised Herrera’s long public-service career, especially her work on water, acequias, land grants, rural communities, modernization, early childhood, and predatory lending reform. Herrera thanked colleagues and said she was leaving to spend more time with family, grandchildren, and personal pursuits.
The chamber also received a Senate message on House amendments to Senate Bill 3, with the Senate concurring in most items and asking the House to recede from two provisions. Committee reports were then adopted on a series of bills and resolutions, including House Bills 99, 206, 213, 250, 267, 270, 322, and 323; Senate Bills 17, 48, 55, 104, and 193; House Joint Resolution 5; and House Memorial 39. Most reports were adopted without objection, while some bills were advanced with committee substitutes or referrals to other committees.
On third reading, the House passed several measures. House Bill 63, funding New Mexico Finance Authority water projects, passed 66-0; House Bill 64, appropriating about $13.25 million for PPRF-related funds, passed 67-0; House Bill 285, refining the disabled veteran property tax exemption, passed 67-0; House Bill 165, expanding C-PACE economic development uses, passed 67-0; House Bill 184, consolidating legacy fund investment accounts, passed 67-0; and House Bill 200, appropriating $10 million for the New Homes for New Mexico starter-home program, was debated at length and then passed. House Bill 291, the tax cleanup bill, drew a failed floor amendment that was tabled 41-24 before the bill passed 59-8. The debate on HB 200 focused on whether the program would help smaller builders and rural communities, while the HB 291 amendment debate centered on adding broader tax provisions and concerns about fiscal impact and policy scope.
NM
New Mexico 2026 Regular Session
House - Chamber Meeting Feb 12th, 2026
New Mexico House Floor Meeting
Transcript Highlights:
- Public Affairs Committee substitute for Senate Bill 20: An act relating to insurance, applying the requirements
- Senate Bill 21, introduced by Senator Stefanics and others, an act relating to health insurance requiring
- Safety Act, providing limitations on the sharing of automated license plate reader information and requiring
- program and restructure the existing broadband program, making conforming and cleanup amendments, requiring
- Safety Act, providing limitations on the sharing of automated license plate reader information and requiring
Bills:
HB111 , HB108 , HB145 , HB164 , HB291 , HJR6 , HR1 , HB63 , HB64 , HB165 , HB184 , HB200 , HB4 , HB7 , HB20 , HB65 , HB66 , HB80 , HB88 , HB96 , HB166 , HB285 , HB295 , HB306 , SB29 , SB37 , HJM2 , HJM3 , HJM1 , HM7 , HM17 , HM4 , HM22 , HM23 , HM24 , HM26 , HM2 , HM16 , HM32 , HM13 , HM47 , HM20 , HM51 , HM1 , HM31 , HM35 , HM36 , HM46 , HM53 , HM54 , HM11 , HM14 , HM21 , HM34 , HM50
Keywords:
water law, state engineer, civil penalty, compliance order, water rights, overdiversion, illegal diversion, groundwater storage and recovery, well license, permit violation, water enforcement, New Mexico water code, irrigation district, conservancy district, water diversion, unauthorized water sales, measuring device, district court appeal, water resources, water compliance
Summary:
The House resumed third reading after a brief evacuation caused by a fire alarm, which members later said was triggered by a faulty sensor in the print shop. The chamber then completed final passage on three bills. House Bill 111 passed 51-3 after debate in which a member from Lee objected that the bill’s language shifted the burden onto landowners and water right owners to prove innocence. House Bill 96, as amended, passed 61-0 after a friendly floor amendment added minority leader appointments to the proposed space commission working group and set the working group to dissolve on December 31, 2026. House Bill 108, as amended, passed 63-1; it made technical changes to soil and water conservation districts, including clarifying district definitions, director appointment procedures, and tax procedures.
MN
Minnesota 2025-2026 Regular Session
Sale and possession of large-capacity magazines for firearms banned HF3402 3/26/26
Minnesota House Floor Meeting
Transcript Highlights:
- With the motion on the floor, what is the vote required for this vote to come to the floor?
- </c><00:13:35.240><c> is</c><00:13:35.360><c> the</c><00:13:35.480><c> vote</c><00:13:35.760><c> required
- </c> on the floor, what is the vote required on the floor, what is the vote required for<00:13:36.280
- Let's start with the thing that can get done, because in 2023 with an 18 and a half billion dollars surplus
MN
Transcript Highlights:
- </c> meets the requirements of the program. meets the requirements of the program.
- There is no requirement that it's last-dollar in.
- There is no requirement that it's money.
- There is no requirement that it's last<00:38:48.920><c> dollar</c><00:38:49.280><c> in.
- In addition to child care, babies require a lot of stuff.
Committee:
House Taxes
Keywords:
homeless prevention aid, homelessness, housing stability, rental assistance, family homelessness, unaccompanied youth, housing navigation, legal representation, family outreach, county aid, Tribal governments, local government aid, general fund appropriation, unspent funds, aid redistribution, sunset repeal, Minnesota property tax aid, services for persons experiencing homelessness, sales tax, use tax
MN
Minnesota 2025-2026 Regular Session
Minnesota House passes the education finance bill, HF2433 5/16/25
Minnesota House Floor Meeting
Transcript Highlights:
- Chair Kisha would have written alone, it reflects a compromise that the dynamic of a tight House requires
- Because a dollar that's in a surplus account is not helping a student in any way, shape, or form.
- that are not permanently requirements that are not permanently funded<00:30:24.000><c> are</c><00:30
- um for nonprofits that MDE requiring um for nonprofits that MDE would<00:54:02.000><c> terminate</c>
- In Mississippi, they required all their teachers to take a four-hour paper-and-pencil test. Okay?
OK
Oklahoma 2026 Regular Session
Senate Legislative Session Apr 20th, 2026 at 01:30 pm
Oklahoma Senate Floor Meeting
Transcript Highlights:
- Less than two years of English language learning or students that are on IEPs where they are not required
Bills:
HB1675 , HB3242 , HB1739 , HB3320 , HB3047 , HB4434 , HJR1089 , HB4432 , HB3718 , HB3705 , SR43 , HB1933 , HB4248 , SB1847 , SB1778 , HJR1086 , HB3001 , HB3002 , HB3003 , HB3004 , HB3005 , HB3007 , HB3008 , HB1590 , HB1242 , HB3818 , HB4305 , HB1979 , HB1225 , HB3931 , HB4454 , HB3849 , HB1746 , HB3720 , HB4275 , HB4300 , HB3586 , HB2268 , HB3755 , HB4117 , HB4294 , HB3650 , HB4298 , HB3270 , HB3145 , HB3056
Keywords:
emergency management, severe weather, youth camp, summer camp, overnight camp, day camp, outdoor education, adventure camp, wilderness program, campground safety, tornado preparedness, flooding, flash flood, high winds, hail, lightning, extreme heat, extreme cold, wildfire smoke, evacuation plan
OK
Oklahoma 2026 Regular Session
Senate Legislative Session Apr 20th, 2026
Oklahoma Senate Floor Meeting
Transcript Highlights:
- less than two years of English language learning, or students who are on IEPs where they are not required
Bills:
HB1675 , HB3242 , HB1739 , HB3320 , HB3047 , HB4434 , HJR1089 , HB4432 , HB3718 , HB3705 , SR43 , HB1933 , HB4248 , SB1847 , SB1778 , HJR1086 , HB3001 , HB3002 , HB3003 , HB3004 , HB3005 , HB3007 , HB3008 , HB1590 , HB1242 , HB3818 , HB4305 , HB1979 , HB1225 , HB3931 , HB4454 , HB3849 , HB1746 , HB3720 , HB4275 , HB4300 , HB3586 , HB2268 , HB3755 , HB4117 , HB4294 , HB3650 , HB4298 , HB3270 , HB3145 , HB3056
Keywords:
emergency management, severe weather, youth camp, summer camp, overnight camp, day camp, outdoor education, adventure camp, wilderness program, campground safety, tornado preparedness, flooding, flash flood, high winds, hail, lightning, extreme heat, extreme cold, wildfire smoke, evacuation plan
Summary:
The Senate convened with a quorum, opened with prayer and pledges, and recognized several visiting groups and honorees, including students from Wesleyan Christian School, Claremore Day participants, and a tribute to Dr. J. Craig for his Marine Corps service, chiropractic career, and aid to first responders after the Oklahoma City bombing. The chamber also welcomed a Cricket Oak High School AFJROTC unit and the Lincoln Christian wrestling team, both recognized for recent achievements. The Senate then adopted Senate Resolution 43 commemorating the 31st anniversary of the Oklahoma City bombing and honoring victims, survivors, and first responders.
The Senate took up House Bill 1933, first rescinding prior action and then adopting a floor amendment to correct a drafting error and shift a penalty provision; the bill then passed 47-0. House Bill 4248, which would require purchasers of hemp beverages to be 21 and treat them similarly to beer for age purposes, passed 45-0 after brief discussion about whether it had medical implications. The Senate also adopted House amendments to Senate Bill 1847, described as a compassion bill that would have saved the state money, and passed it 35-11 before later approving it as an emergency measure with 43 ayes.
The chamber next adopted House amendments to Senate Bill 1778, a major literacy bill adding early intervention, teacher training, and optional early ELA testing for second graders, along with good-cause exemptions; it passed 43-2 and then as an emergency measure. The Senate also passed House Joint Resolution 1086, approving rules from several agencies, by 42-4. Finally, the Senate advanced and passed a series of sunset-extension bills for boards and councils, including the Child Death Review Board, county government training commission, Board of Chiropractic Examiners, Board of Examiners in Optometry, Oklahoma Climatological Survey, several environmental advisory councils, and the Board of Tests for Alcohol and Drug Influence, with most later receiving emergency passage. The Senate concluded with announcements of upcoming committee meetings and adjourned until April 25, 2026 at 1:30 p.m.
AL
Transcript Highlights:
- And that oh so important question: What do you require?
- There's no requirement in ERIC to maintain clean voter roles.
- require a consumer rights, but may require a consumer to use an existing account.
- requires the subcontractor to meet the obligations of the processor.
- So, cities would not be ... able to issue or require that they have a business license.
Bills:
HB 14 , HJR 31 , HB 43 , HB 18 , HB 106 , HB 36 , HB 26 , HB 149 , HB 121 , HB 206 , HB 136 , HB 3114 , HB 2733 , HB 1732 , HB 3700 , HB 467 , HB 1130 , HB 1846 , HB 1442 , HB 1147 , HB 2176 , HB 2701 , HB 805 , HB 2890 , HB 1154 , HB 1644 , HB 2118 , HB 1718 , HB 2488 , HB 2596 , HB 1971 , HB 2468 , HB 484 , HB 2578 , HB 3204 , HB 1041 , HB 307 , HB 685 , HB 1710 , HB 538 , HB 2525 , HB 3125 , HB 2027 , HB 2894 , HB 3077 , HB 3684 , HJR 99 , HB 1399 , HJR 5 , HB 1330 , HB 2110 , HJR 2 , HJR 6 , HB 1587 , HB 14 , HJR 31 , HB 43 , HB 18 , HB 106 , HB 36 , HB 26 , HB 149 , HB 121 , HB 206 , HB 136 , HB 3114 , HB 2733 , HB 1732 , HB 3700 , HB 467 , HB 1130 , HB 1846 , HB 1442 , HB 1147 , HB 2176 , HB 2701 , HB 805 , HB 2890 , HB 1154 , HB 1644 , HB 2118 , HB 1718 , HB 2488 , HB 2596 , HB 1971 , HB 2468 , HB 484 , HB 2578 , HB 3204 , HB 1041 , HB 307 , HB 685 , HB 1710 , HB 538 , HB 2525 , HB 3125 , HB 2027 , HB 2894 , HB 3077 , HB 3684
Keywords:
nuclear energy, advanced reactors, energy security, grant programs, Texas Advanced Nuclear Energy Office, farm products, tax exemption, ad valorem taxation, agriculture, Texas Constitution, livestock, producer, finance, young farmers, financial assistance, pest control, rural health, hospital funding, healthcare access, mental health services
MN
Minnesota 2025-2026 Regular Session
House Higher Education Finance and Policy Committee 4/1/25
Higher Education Finance and Policy
Transcript Highlights:
- </c> talent for businesses and it requires talent for businesses and it requires the<00:03:22.879><c>
- </c> residency requirements on them at all. residency requirements on them at all. um<00:18:25.360><c
- </c> on their major requirements. on their major requirements.
- Am I correct in requirement.
- </c> requirement. It just says be employed. requirement. It just says be employed.
Committee:
House Higher Education Finance and Policy
Keywords:
North Star Promise, scholarship, higher education, Minnesota Office of Higher Education, in-demand jobs, workforce development, career training, job market, high-demand occupations, high-demand industries, college aid, state financial aid, FAFSA, student eligibility, program of study, degree program, certificate program, community college, university, labor market data
NH
Transcript Highlights:
- </c> another way to go that wouldn't require another way to go that wouldn't require expenditure,<00:
- </c><00:34:28.800><c> DHS</c> House Bill 2 required DHS House Bill 2 required DHS to<00:34:30.800><c>
- Yes, those are..." requirements uh and the regulations so requirements uh and the regulations so that
- </c> abiding by those uh those requirements. abiding by those uh those requirements.
- </c> certain kind of you know requirements certain kind of you know requirements and<01:10:13.040><c>
Committee:
Senate Finance
MN
Transcript Highlights:
- </c> bipartisanship by definition requires bipartisanship by definition requires people<00:20:37.280>
- </c><00:37:22.320><c> any</c> Department of Revenue don't require any Department of Revenue don't require
- These requirements span the practices.
- </c> and I think different programs require and I think different programs require more<01:05:02.880>
- Um so I I I others don't require much.
Committee:
Senate Finance
CA
California 2025-2026 Regular Session
Assembly Public Safety Committee Jul 15th, 2025
Transcript Highlights:
- Meanwhile, SB 704 imposes strict requirements on the sale of individual barrels, including background
- This bill acknowledges that this subset requires prioritization.
- It requires sex offenders to register for most sex acts with a minor.
- For example, they require the disclosure of sensitive information.
- One of the reasons many cities require these extra steps is...
Summary:
The committee heard several public safety measures, with extensive testimony on firearms regulation, disability and sexual assault, mental health diversion, emergency response, and law enforcement masking. SB 704 by Senator ArreguÃn would require firearm barrels to be purchased through licensed dealers with a background check, as a response to the rise in ghost guns and 3D-printed firearms; supporters said barrels are a key component of untraceable guns, while opponents argued the bill burdens lawful gun owners and does little to stop criminals. SB 258 by Senator Wahab would eliminate the remaining spousal rape exception for victims unable to consent because of disability; supporters called it a needed closure of an archaic loophole, while disability-rights advocates opposed it unless amended, warning it could worsen misunderstandings about capacity to consent and harm disabled people’s autonomy. After debate, SB 258 passed the committee on a due-pass motion to Appropriations, with several members voting aye and the bill held on call.
Senator Umberg presented SB 398, which closes a loophole in the law prohibiting paying or offering money or other value to induce someone to vote or register to vote; there was little opposition, and the bill passed on a due-pass motion to Appropriations and was held on call. He also presented SB 27, a CARE Court cleanup measure that would allow certain misdemeanor defendants found incompetent to stand trial to be routed into CARE Court and would expand eligibility to some people with mood disorders with psychotic features. Supporters said it would improve access to treatment and reduce unnecessary incarceration, while county behavioral health directors and disability advocates warned it could blur the line between voluntary civil treatment and coercive criminal proceedings and expand CARE Court beyond its intended scope. SB 27 passed on a due-pass motion as amended to Appropriations.
The committee also heard SB 36 from Senator Umberg, a price-gouging measure tied to wildfire-related emergency conditions that also expands search-warrant authority for certain misdemeanor investigations. Public defenders opposed the search-warrant expansion as unnecessary, while a late supporter from the Los Angeles County District Attorney’s Office spoke in favor; the bill was moved on a due-pass motion as amended to Appropriations and held on call. SB 571 by Senator ArreguÃn would increase penalties for impersonating emergency personnel and related conduct during disasters; supporters cited post-fire looting and impersonation, while opponents argued longer sentences do not deter crime and that existing law is sufficient. The bill passed on a due-pass motion as amended to Appropriations and was held on call.
Finally, Senator Wiener presented SB 627, which would prohibit law enforcement from wearing extreme masks except in limited circumstances, aimed largely at masked federal immigration enforcement operations. Supporters said masked, unidentified officers create fear and undermine trust, while law enforcement groups argued the bill wrongly sweeps in local officers, is too broad, and should instead target federal agents or impersonators. Testimony was still underway when the transcript ended, and no final committee action on SB 627 is shown here.
MN
Transcript Highlights:
- class that we require them to take. take. take.
- :37.120><c> the</c><00:19:37.280><c> credit</c> all the requirements for the credit all the requirements
- And then maybe that may require that."
- and other farming requirements as part of that.
- Agricultural homestead, with acreage requirements and other farming requirements as part of that.
Committee:
Senate Taxes
KY
Kentucky 2025 Regular Session
Consensus Forecasting Group (9-16-25)
Transcript Highlights:
- So we actually had a $1.42 billion budget surplus in fiscal 24.
- /c> we actually had a 1.42 we actually had a 1.42 billion billion billion budget<00:56:39.520><c> surplus
- was that 22 was already in the books a long time ago, and for you to make an amended return would require
- 14:55.440><c> amended</c><01:14:55.840><c> return</c><01:14:56.080><c> would</c><01:14:56.320><c> require
- </c><01:14:56.560><c> the</c> make an amended return would require the make an amended return would require
Summary:
The meeting focused on preliminary fiscal 2026 revenue estimates and the governor’s office request for an official revision to fiscal 2026, with members reminded that any estimate adopted now would not bind the December official estimates. Staff from S&P Global walked through three forecast scenarios—control, optimistic, and pessimistic—based on recent federal tax changes, tariffs, and other policy developments, emphasizing that the outlook remains highly uncertain.
Under the control scenario, the presentation projected below-trend real GDP growth of 1.8% in fiscal 2026, slowing to 1.5% by fiscal 2028, with unemployment peaking around 4.5% and the Federal Reserve cutting rates three times to a long-run range of about 2.75% to 3%. The optimistic scenario assumed lower effective tariffs, stronger growth, and better labor and housing outcomes, while the pessimistic scenario assumed a broader trade war, higher effective tariffs, faster deportations, weaker employment and consumer spending, and unemployment rising to about 6.3%. Speakers also noted that the forecast was prepared before later BLS revisions and that recent data on inventories and AI-related investment made the recent quarters look unusually volatile.
Members discussed how the current fiscal 2026 outlook compared with earlier assumptions and noted that the eventual revenue revision may be smaller than the spread between the optimistic and pessimistic economic scenarios. The governor’s office and committee members also reviewed sector-specific impacts, including manufacturing, housing, light vehicle production, exports, and consumer sentiment, with particular concern about Kentucky’s auto and housing-related industries. No votes or formal actions were taken in the portion provided.
MN
Transcript Highlights:
- ><c> features</c><00:47:27.040><c> like</c> requirements and include features like requirements and include
- ><c> one-to-one</c><00:52:47.680><c> match</c> leverage the required one-to-one match leverage the required
- </c> by banning any terms that would require by banning any terms that would require libraries<01:03:
- It requires that if a license has laws.
- We also have a surplus currently.
Committee:
Senate Education Finance