Senate and Assembly Economic and Revenue Reports Released Today

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.

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.