State Budget Clears Senate With Overwhelming Bipartisan Support

  • Transfers $1 billion into a new Stabilization and Inflation Reserve.
  • Includes $250 million for a reserve to help defray cost overruns for state capital projects due to inflation.
  • Provides $833 million for water and wastewater infrastructure projects, bringing the total for the biennium to $2.5 billion.
  • Brings education funding to a total of $16.5 billion, an additional $1 billion over the fiscal year 2021–22 amount.
  • Increases the base starting salary for entry-level teachers.
  • Increases pay raises for teachers to an average of 4.2%.
  • Expands the income eligibility for the Opportunity Scholarship Program.
  • Redirects 2% of sales tax revenue — approximately $193.1 million — to the Highway Fund, increasing to 6% in 2024–25 and thereafter.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store