The last two weeks of the session have been all about the budget. The House of Representatives passed its proposed two-year budget on June 2. The House budget includes $22.9 billion in State spending in FY18, which is the same as the Senate proposal, and $23.8 billion in FY19, which is slightly more than the Senate proposal. While the overall spending levels are similar, the details of how those funds are allocated differ significantly in many cases. The tax cuts in the House budget are much more modest than the Senate proposal. The House plan includes an increase in the standard deduction and the cap on the mortgage expense and property tax deduction, but no cuts to the personal or corporate income taxes. In sum, the House budget would reduce revenue by $350 million over the next two fiscal years, while the Senate budget would reduce revenue by about $1 billion over the same time period. Read the full report here.