Commentary On The Senate Ways And Means Committee FY2025 Budget
The Senate Ways and Means Committee (SWM) released its FY2025 budget on May 7th. This spending plan totals $57.9 billion, an increase of $1.8 billion over the FY2024 General Appropriations Act (GAA). Like the Governor’s and House’s versions of the budget, the SWM budget is based on the consensus revenue estimate of $41.5 billion in tax revenue – a decrease of $208 million from last year’s consensus figure.