More Money

Yesterday the Washington State Economic and Revenue Forecast Council released revenue projections for the current and upcoming biennia.  Last week the Council met and voted to move the June forecast up to mid-May.

This is the last forecast before the end of the current fiscal year. The forecast predicts the state will collect $106 million more than expected in fees and taxes for the 2013-2015 budget biennium, which ends this June 30. In addition, the state can anticipate $309 million more in taxes and fees than expected for the 2015-2017 budget biennium, which begin this July 1.

The forecast is expected to spur negotiations on the Hill.  Legislative leaders exchanged budget offers last week and plan to continue negotiating and exchanging offers this week.  The current 30-day special session ends May 28.

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