RIPEC released its policy brief Thursday examining highlights from the governor’s spending plan. Spending from all sources would increase by 3.6 percent, driven largely by a 7.8 percent surge in federal aid. The analysis also flagged concerns about projected budget deficits, which are expected to swell to $537 million by fiscal year 2031. RIPEC attributed the growing shortfall to the use of one-time surplus revenues for recurring expenses and projected expenditures outpacing revenues. The governor’s budget also includes a proposed $600 million bond package, which would be the largest in state history and $200 million higher than any previous offering.