MADISON, Wis. (AP / WJMC) — A new two-year state budget has been passed in a record 24-hours.

Lawmakers were rushing Wednesday to pass the plan and get it signed into law before federal law changes take effect that could cost Wisconsin hospitals $1.5 billion. The two-year spending plan will affect nearly every person in the battleground state. Income taxes are cut for working people and retirees and sales taxes are eliminated on residential electric bills.

The Senate passed it just after 9 p.m. Wednesday, the State Assembly passed it just before 1 a.m. Thursday, and Gov. Tony Evers signed it into law a half-hour later.