This morning the Washington Revenue Forecast Council met for the release of the quarterly revenue forecast.
The forecast projects that the state will take in $231 million more than was expected – $100 million for 2011-13 and $121 million for 2013-15. In addition the release of the caseload forecast this afternoon is expected to provide $90 million in relief. This good news may be the push needed for the Legislature to strike a final budget and head home.
Throughout the legislative session and the first special session budget negotiators have been stuck trying to reach a deal for additional revenue (House) and reform legislation (Senate). The projected increase in the revenue forecast may allow for the case to be made that additional revenue is not needed and in turn no reform (such as workers compensation and K-12) would be necessary at this time in exchange for revenue.