LFB projects $3.8 billion surplus for 2021-23 budget

The Legislative Fiscal Bureau today projected the state will finish the 2021-23 budget with a $3.8 billion surplus, nearly $2.9 billion more than was expected just several months ago.
The LFB said the revised estimate was due to $2.5 billion more in expected tax collections by the end of the two-year period, an increase of $33.1 million in departmental revenues and a drop of $339.4 million in appropriations.
LFB noted the state’s budget stabilization fund balance is more than $1.7 billion. That exceeds the automatic trigger that directs the state to divert some surplus state revenues to the fu...

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