$600 million is a substantial sum

Article posted on September 13, 2017

This evening the House passed the Taxpayer’s Budget plan, as revised through yesterday and today’s negotiations.  The total revenue transfer from existing accounts is in the neighborhood of $600 million.  It was passed on a party line vote with 15 Republicans joining Democrats in opposition.  I haven’t seen the details of this legislation.  It was scaled back from the $2 billion originally discussed.  I don’t know how the remainder of the shortfall is addressed.  I will be speaking with House members before the Senate returns to session on Monday and hope to learn about their overall funding strategy.  I don’t know if they include any borrowing or tax increases to close the gap.  But, $600 million is a substantial sum in this situation.

-John

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