State lawmakers are back with another massive state revenue surplus, now projected at $610 million, likely at their disposal. But having lots of money to spend, while better than starting the year eyeing deep cuts, does not equate to easy decisions or agreement over how.
That’s because no matter how much is available, it is always dwarfed by spending requests. Last year, lawmakers by March had received about $7 billion in spending requests for $1.1 billion in long-term federal pandemic aid.
This year, Gov. Daniel J. McKee and Democratic legislative leaders are in general agreement over the ongoing need to create more affordable housing, reverse declining test scores in public schools and curb rising energy costs. But as this week’s cover story reports, few details have been agreed to.
In a few weeks, McKee’s fiscal 2024 budget plan will give an early indication where he stands, with final housing and education funding plans not likely to emerge for several months.
What more state leaders do to address rising winter energy costs could be one of the first broad debates of the new legislative session.
Regulators and state leaders have proposed or approved nearly $40 million in credits benefiting mostly those with low incomes. But the rising cost for heat and electricity is hurting residents and businesses at all income levels and the state has the money to help.
Legislative leaders promised to explore additional help but have offered few details. Gov. McKee, meanwhile, has suggested suspension of the state’s 4% tax on electricity bills through April. Stay tuned.