The governor’s $55.2 billion budget is based on the December S&P Global forecast that projected stable economic growth and considered some of Trump’s top economic policies, including tariffs and tax cut extensions, would be implemented, Sturm said.

President Donald Trump has signaled that new tariffs will take effect next week, targeting goods from Canada and Mexico.

The Senate Judiciary Committee decided to roll over a substitute assault weapons ban to give members time to study the proposal.

Trump's threats to put tariffs on imports from Canada and Mexico have weighed on markets, even though there has been considerable uncertainty over whether he would make good on his threat.