5 things to know from the Senate's latest budget plan

The Senate will approve a 439-page spending bill this week. Here's what you should know about it.

Before heading out for spring recess, the Senate this week will approve a two-year spending plan. The House aims to pass its own budget proposal by Memorial Day. The two chambers will then aim to work out differences between their two bills by the end of June.

With Republicans one seat shy of a supermajority in the House, however, they’ll need the stamp of approval from Gov. Josh Stein or a willingness by at least one House Democrat to cross party lines.

The Senate on Monday released its 439-page spending plan, and there’s lots to unpack. Here are a few quick things you should know:

🥊#1: NCInnovation fight

Since lawmakers created the NCInnovation Fund in 2023, conservatives have been deeply divided, with some wanting it scrapped entirely.

NCInnovation is private nonprofit established to bolster public university research.

The Senate’s budget plan makes a notable funding overhaul, but doesn’t completely kill the initiative as many House Republicans want through House Bill 154.

The Senate plan transitions NCInnovation off of an annual $500 million endowment funding source and instead gives the group what it otherwise would’ve gotten last year, $25 million, in continuing funds for the next four years.

💪#2: DAVE makes the cut