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ARTICLE · 24 JUNE 2024

The State Budget Showdown: House And Senate Budget Proposals Compared

Ward and Smith, P.A
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During the 2023 Long Session, the General Assembly enacted a two-year budget to carry the state through June 30, 2025.

United StatesStrategy
Whitney Christensen
Whitney Christensen
Trafton P. Dinwiddie
Trafton P. Dinwiddie

During the 2023 Long Session, the General Assembly enacted a two-year budget to carry the state through June 30, 2025.

While that budget remains in place, it is standard practice for the General Assembly to enact a budget update in the second year of each biennium to adjust for revenue changes and the state's evolving needs. Appropriations leaders from both chambers have been hard at work developing that revised budget for many months, but differing opinions about spending totals and tapping into state savings accounts have halted those negotiations.

Senate and House leaders strongly disagree about whether, and to what degree, this budget should utilize funding from state savings reserves to help fund the spending plan. Senate Republicans argue that it is fiscally irresponsible to pull from savings reserves in a year with a revenue surplus and no natural disasters. House leaders disagree and stand by the projects they believe would be perfect uses of Medicaid

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