The House and Senate have enacted a $59.6 billion fiscal year (FY) 2023 budget, which includes all major spending proposals in either budget as well as several new large investments in areas like early education, K-12, and transportation.

The conference budget includes close to $2.8 billion more in spending than either the House or Senate versions. This increase is prompted by a major upgrade in expected tax revenues as well as updated assumptions for Medicaid spending and revenue.