Kriss Sjoblom

Over the three years of this federal windfall, excess spending in the state compared to the trend totaled $5.4 trillion (2025 dollars). This surge in federal spending largely explains the surge in state tax revenues in fiscal years 2021, 2022, and 2023.

If the state Supreme Court invalidates the billionaires' clause, a severability clause might pertain, meaning a wealth tax for all of us.