Budget Update
Lawmakers moved closer this week to crafting a FY 2021-22 State
Budget. Senate and House full budget committees met this week
to pass their respective spending plans (SB 2500 and HB 5001) teeing them
up for debate, possible amendments, and passage on the full floor
of the chambers. Budget conference will be called subsequently to
hammer out remaining differences, including spending on education,
health care and the environment.
Currently the House spends $97.1 billion, while the Senate is
at $95 billion. Both chambers are proposing putting aside $5
billion for reserves. Although, COVID has taken a toll on budget
revenues over the last year, actual revenues have been consistently