New numbers are in for expected revenue coming in to the state of Washington and the news is good. John Sattgast reports from the state Capitol.
The State’s Economic and Revenue Forecast Council says Washington will receive an additional $247 million dollars in the current budget cycle over the previous November forecast. And in the next budget cycle, revenues could grow by $303 million dollars.
Representative Terry Nealey is the House Republican member on the Forecast Council.
“Washington state’s economy is doing very, very well, especially on the westside’s Seattle I-5 corridor. I’m still concerned with Eastern Washington and the rural areas. We just simply do not feel the same positive economic results in those areas.”
Nealey said the growth in revenues should help to relieve pressure in the Legislature to raise taxes.
“To me, it doesn’t really help anybody just to raise taxes. That’s not helping our economy. There are some bills we are working on that would help incentivize investment in the rural areas. So those are the things we need to be working on.”
Budget writers in the Legislature have been waiting for these latest figures to begin finalizing spending proposals for the new state operating budget. Nealey believes the increases could help to bring the parties closer together sooner to pass a compromise budget plan before the end of the 105-day session. John Sattgast, Olympia.