LINCOLN- After grappling with a multi-million dollar projected deficit all session, Nebraska lawmakers passed a balanced budget, signing off on roughly $11.1 billion in general fund spending for the next two fiscal years. The Nebraska Legislature passed both mainline budget bills Thursday, sending them to Gov. Jim Pillen's desk to be signed into law. That doesn't necessarily mean lawmakers are done with budget debates, however. The governor has the power to line-item veto budget bills, and the Legislature retains the ability to override his vetoes.

The approved plan proposes a 0.9% increase to state expenses over the next biennium, which starts on July 1, 2025, and goes through June 30, 2027. It also closes a projected deficit that at one point was as high as $432 million, and will leave about $2.6 million leftover by the end of the cycle. The projected deficit has been in flux all session. It started at $432 million, then dipped as low as $124 million before it shot back up to $396 million due to new economic forecasts.

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