Based on the report, there is an additional $483 million in state revenue for the current fiscal year. This surplus is due to economic growth and investors cashing in stocks over worries of potential tax increases during the federal “fiscal cliff”. 

The report also concluded that there will be an additional $219 million in revenue for fiscal year 2014, with approximately $182 million more for the General Fund and $38 million more for the School Aid Fund.

Discussions began almost immediately on whether the additional money should be used to pay down debts, to increase spending, or be placed in the Rainy Day Fund.  The Governor indicated he would like to use a large portion of the money for road and bridge projects; however, Democrats have voiced their support for an increase in education spending and tax cuts. Regardless, the revised estimates will be used as the state Legislature works to finalize the fiscal year 2014 budget.