Legislative leaders approve budget plan, leaving at least $1 billion for consideration in 2023 session
Legislative leaders approved a starting budget proposal for the quickly approaching 2023 session that leaves the state with an unprecedented $3.9 billion in unencumbered money. House Speaker Philip Gunn, who presides over the Legislative Budget Committee that approved the budget recommendation Tuesday, said a little more than $1 billion of the reserve funds are recurring. In other words, the funds will be available yearly for legislators to spend. The overflowing state coffers are already spawning debate among legislative leaders about providing taxpayers with rebate checks or phasing out the personal income tax.