January 30, 2023
PUBLIC FINANCE > Budget > FY 2024

FY 2024 Consensus Tax Revenue Agreement

Budget leaders from the House, Senate, and Administration have agreed on a $40.410 billion consensus tax revenue figure for the fiscal year 2024 budget. Budget makers expect tax revenues to grow by $642 million (1.6 percent) over estimated FY 2023 collections of $39.768 billion. Notably, the consensus tax revenue agreement caps the use of income surtax revenues at $1 billion in the FY 2024 budget. That revenue is not included in the figures noted above. The FY 2023 tax revenue figure has also been revised upward by $151 million over the current benchmark of $39.618 billion.