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05 February 2025

Active state tax legislative session expected in 2025

The 2025 state legislative year is poised to be eventful for tax, economic and sustainability policy. All 50 state legislative bodies will be in session in 2025 and must pass new budgets. Each state has some form of balanced budget requirement enshrined in law, except Vermont, which requires lawmakers to balance spending priorities against revenue raising. Adopting a new budget is becoming more challenging for many states as record revenue growth over the past several years has slowed and federal funding for various states has or will soon sunset. The result has been budget tension in several states, including California, Illinois, Maryland and New York. Learn more in this EY article.

Document ID: 2025-0406

 

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