The legislature calls its plan a 'responsible, balanced, and on-time budget plan.' It addresses the administration's projected shortfall of about $45 billion next year and $30 billion in the following year, balancing the budget with $13 billion in total reserves in the second year.
The legislature's plan will attempt to solve this by creating a 'Projected Surplus Temporary Holding Account' to hold onto the extra money until such time that 'it is clear whether the projected surplus of revenues [will] actually materialize.'
The legislature's plan rejects the Governor's proposal to cut the Active Transportation Program by $600 million and instead proposes to fund it from the State Highway Account.
The $1 billion 'augmentation' granted to the Active Transportation Program, which the governor decided to try to take back, is safeguarded in the legislature's plan.
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