The Eagle Has Landed
Lawmakers are on track to pass a comprehensive budget after a nearly yearlong stalemate. Plus, what else is on the ballot?
At last, we have a deal in place (or at least a framework, as lawmakers like to call it). It’s been two and a half years since Republican leaders passed a comprehensive state budget. While there are still plenty of differences for House and Senate budget negotiators to work out, the biggest sticking points appear to be resolved.
So we’re going to begin today with what you need to know about what is and isn’t in the agreement.
Roll Call
What’s in the budget framework?
6 unanswered questions
Taxes on the ballot
Did Phil Berger really raise $0 to challenge his defeat?
Art of the Deal
Here are some of the toplines that you should know about:
Taxes
House Speaker Destin Hall and Senate leader Phil Berger announced that the personal income tax rate will drop from 3.99% this year to 3.49% in the 2027, 2028, and 2029 tax years. The rates would drop to 3.24% from 2030 to 2032, followed by another cut to 2.99% in 2033 and 2034.
The budget will make no changes to corporate income tax rates, which will be phased out by the end of the decade.
