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Slide 6Slide 6 <br />State Budget <br />The 2023 budget process was marred with uncertainty due to deficit concerns and <br />an unprecedented tax return delay in response to the severe winter storms in <br />January 2023. <br />The 2023 budget agreement closed an estimated $32 billion budget deficit while <br />setting aside $37.8 billion in reserves. <br />The 2024 budget agreement likely to include: <br />Careful spending practices to offset any lingering deficit impacts <br />Budget resiliency, shoring up reserve accounts, and prudent spending <br />2023 Budget Process <br />2023 Legislative Summary and Priorities for 2024