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After a year long wait, the General Assembly has approved the $34 million state budget for the 2026-27 fiscal year. It passed with a bipartisan mix of support and opposition in both chambers. In addition to multiple K-12 funding and provisions, the proposal lowers the personal income tax rate from 3.99% this year to 3.49% next year and extends a possible cut to 2.49% from 2029 to 2034.