In a new policy brief, we take a look at the House-passed operating budget. Briefly:
- The House-passed operating budget would increase revenues by $2.981 billion in 2017–19.
- It would impose a 20 percent B&O tax surcharge on various activities while reducing B&O taxes for small businesses, and it would impose a tax on capital gains, among other changes.
- NGFS+ appropriations would increase by 16.7 percent over 2015–17.
- NGFS+ spending would be $44.685 billion for 2017–19.
- Policy level spending would account for $3.252 billion of that.
- Policy spending for public schools would increase by $1.873 billion.
- The unrestricted ending fund balance would be $1.196 billion.
- The budget would make appropriations from the rainy day fund in 2015–17 and 2017–19.
- We’ve previously written about the Senate budget and compared the Senate and House budgets.