Lawmakers Approve 31 Bills to Shape FY2025/2026 Budget Amid Warnings on Revenue Collection and Federal Cuts

After months of hearings, questioning, and a detailed review of government finances, lawmakers on Thursday advanced 31 bills that will form the FY2025/2026 budget. The package, vetted in the Committee on Budget, Appropriations, and Finance, reflects what legislators described as a balance of caution and optimism, as they confront reduced federal support, rising costs, and the urgent need to strengthen local revenue collection.

“I entered into this budget process mindful of the federal environment and the trickle-down effect on local programs, services and the communities from cutbacks in the federal funding,” said committee chair Senator Novelle Francis. The budget, he added, “represents both fiscal caution and optimism for the upcoming fiscal year.”

With federal clawbacks threatening several programs, senators emphasized that the government must generate revenue and collect taxes owed to keep the budget balanced. “We weren't able to fund everything, unfortunately, because we have a lot of money on the streets, and people need to pay their taxes,” said Senator Carla Joseph.

Senator Kurt Vialet agreed, warning that “if we don't collect the taxes, this budget won't be balanced, so the government must do a better job.” He also stressed that federally funded recovery projects must get underway soon. “We need those projects to start so that those monies can circulate in the economy and fuel this budget,” Vialet said. He expressed hope that by next year the territory might even achieve a surplus.

Other lawmakers shared confidence in the committee’s work. Senator Hubert Frederick said members made “the most prudent decisions when it comes to the finances of this government,” focusing on “responsible budgeting” to avoid repeating mistakes. Senator Marise James added that the committee “put the money where we should put the money in terms of what we should value and prioritize in our community,” though she acknowledged that funding could not cover all needs.