This year’s annual May Revision to the Governor’s Budget proposals promises to be the most consequential in recent memory, fueled by a torrent of state tax revenues, spiraling inflation, and sharp differences over the state’s fiscal direction. The Governor will release his “May Revise” budget proposals on or around May 13, updating his prior proposals released in January. Meanwhile legislative leaders are floating dramatic budget proposals of their own that differ sharply from the governor’s and that would fundamentally alter key education funding parameters and priorities.