February 28, 2023
The Assembly Ways and Means and Senate Finance Committees put out their Economic and Revenue Reports for FY 2023-24 today. They are linked below.
- 2023 Assembly Ways & Means Economic and Revenue Report
- 2023 Senate Finance Committee Economic and Revenue Report
The Senate has identified an additional $1.3 billion than the Executive Budget Financial Plan forecast.
The Assembly has identified an additional $1.078 billion above the Executive Budget, due to “differences in economic projections and how these translate into tax receipts.”
Three-way discussions will commence to reach agreement on whether there is additional revenue to use for the upcoming fiscal year and final budget negotiations, beyond what the Executive proposed.