Budget Watch - Proposed Budgets Close in Amount, but Big Differences Remain
At the halfway mark of the 2018 Legislative Session, the House and Senate approved their proposed state budgets for FY2018-19. Both spending plans top $87 billion, exceeding current spending by more than $2.2 billion (2.7 percent). The House increases current General Revenue (GR) spending by $530 million (1.7 percent), while the Senate increases GR spending by $249 million (0.8 percent).
The budget’s bottom lines are relatively close, with the Senate’s $87.3 billion plan coming in at only $100 million more than the House. While the totals are similar, some big differences exist, particularly in education and environmental funding.
The next step is for budget negotiators to go into the budget conference process, where every number and word in the budget must be agreed upon.