That's the question on many people's minds tonight.
It's still unclear how exactly the budget will affect university students. Many wonder if classes and staff will be reduced or if tuition will go up. But presidents from ASU and UofA are calling this budget a setback for students.
Arizona education advocates say the new budget will hurt the economy.
"We are really producing a new C to our economy, apart from citrus and copper and cattle and unfortunately its chaos," says Andrew Morrill, president of the Arizona Education Association.
Morril says the $9 billion budget is balanced on the backs of students. The budget slashes 100 million from universities and cuts all state funding for Pima and Maricopa community colleges.
"Frankly the future of the state is very dependent on a strong stable public education system from early grades up through high school and all the way to community colleges and public universities, and unfortunately all of those were hit by this budget," Morrill says.
But if universities are the losers in this budget, republican House Majority Leader Steve Montenegro believes it's a win for K-12 education.
"When you are able to pass a balanced budget without raising taxes and protecting K through 12 spending by increasing by $102 million, I think that's a pretty good budget," says Montenegro.
The budget also delivers the tax cuts Governor Ducey promised.
"If tax cuts are the answer to a strong economy, wouldn't Arizona know it by now, after two decades of tax cuts?"
"We had to make reductions to government," said Montenegro. "If the families have to tighten their belt, than government, as a general thought, should be tightening its belt."
The budget heads to Governor Ducey's desk tomorrow. He's expected to sign it into law.