On Monday, House Democrats released a new two-year budget that includes about $1.4 billion in additional taxes to help pay for some of their desired programs.
The House’s $52.6 billion spending proposal represents about an $8 billion increase over the two-year budget the Legislature approved in 2017. Leaders in the Senate, which is also controlled by Democrats, are expected to release a different spending plan in the coming days.
The House proposal would rely on a mixture of new taxes, including a tax on “extraordinary profits,” to pay for about $2.3 billion in new policy investments.
That $2.3 billion comes on top of a roughly $5.8 billion spending increase House Democrats say is needed to maintain existing programs.
House leaders said most of the new revenue