|
At this moment, a bit of a reprieve. At least for those of us in the conservation district world. While others are still chasing after bills that have made it through the first round of cutoffs, we are mostly waiting for the release of the budget, which comes soon!
 The capitol building in the pre-dawn light.
New Revenue Forecast and Upcoming Budgets
On Monday this week, the newest revenue forecast revealed some good news for the budget. The current budget cycle is now expected to see an increase of $827 million compared to the last forecast. While that comes as welcome news, it doesn’t mean Washington is completely out of the woods. Only that the previously anticipated $2.3 billion shortfall is now less than expected.
This could mean fewer cuts to the budget. It could mean less reliance on the rainy day fund. It could lead to any number of scenarios. We will learn soon enough.
The supplemental operating budget will be released by both the House (HB 2289) and Senate (SB 5998) this Sunday at 3pm. Then, there will be a rapid turnaround for hearings (Monday) and a vote (Wednesday). After that happens, there will likely be a conference committee formed with the budget leadership for each chamber to find a resolution between the two version of the operating budget. These meetings will happen behind closed doors until a final budget is produced for a final vote.
The supplemental capital budget has a slightly different pathway. We're not quite sure what time it will be released, but it is expected sometime on Monday. The hearings for both the House (HB 2295) and Senate (SB 6003) will occur on Tuesday, with a vote scheduled on Thursday. Typically, there is less disagreement between the chambers on the capital budget, and a conference committee is usually not part of the process.
Resources
|
