On Friday the Washington Economic and Revenue Forecast Council released the most recent revenue report.  Revenue projections through 2017 have increased by $274 million. This raises the 2015-17 state budget to $37 billion.

Amid the good news was the stark reminder that the Legislature still must find a way to deal with I-1351 to lower class sizes – which would create an estimated $2 billion budget shortfall.  Even if the Legislature suspends or even sends the initiative back to the voters, policymakers must still find a way to fund the McCleary decision.

This session policymakers moved the revenue forecast up a month in an effort to move the budget process along.  The next revenue forecast will be released in June.