The consensus revenue forecast released Friday by the Division of Budget found reasons to be bullish for the state’s labor outlook in 2018, pointing to global growth, federal tax changes and higher federal spending.

Nevertheless, the forecast — a product of Gov. Andrew Cuomo, the Republican-led Senate and Democratic-controlled Assembly — found “some disagreement” over the impact of the tax changes signed into law by President Donald Trump in December.

Cuomo has railed against the tax law and its capping of state and local tax deductions at $10,000 and has pledged to push for a repeal of the measure. The tax law and its impacts are still considered a potential risk factor for the state, but the forecast presents a more sober look at the impact of the tax law, which includes cuts to income taxes as well as the corporate rate.

“The potential impact of federal tax law changes represents a source of both upside and downside risk to the household spending and business investment forecasts,” the report found. “Additional sources of risk to the household sector include slower housing market growth than expected, brought about in part by strong home price growth, as well as a steeper slowdown in auto sales than anticipated.”

The report found all agree household spending, employment and net worth are due to increase in 2018.

When it comes to the state’s labor market, the consensus for growth points to a 1.1 percent increase for the 2018-19 fiscal year, with wages increases by 4.4 percent.

Overall, two-year revenue is expected to be within a $675 million to $750 million range above what Cuomo’s $168 billion spending plan initially estimated.

The forecast is a key step in reaching an agreement on the budget, which lawmakers plan to pass by March 29, several days before the start of the state’s fiscal year.