The legislative session cleared its first major hurdle Friday with the deadline for policy bills having to make it out of committee. The headlines for last week were dominated by the final revenue forecast before the House puts its finishing touches on its budget proposal, showing the state will have an extra $250 million to
The state Economic and Revenue Forecast Council (ERFC) held its quarterly meeting on February 20. The forecast of general fund–state revenue for the current biennium (2013–15) increased by $106.8 million to $33,546.6 million. The forecast of general fund-state revenue for the upcoming biennium (2015–17) increased by $129.4 million to $36,448.9 million.
In the unveiling of their $15 billion transportation package proposal that featured support from two Democratic Senators last week, Republicans in the Senate held true to a theme they’ve reiterated since the election last fall, and years before that: reform measures in exchange for revenue. In all, eight policy proposals were included that would overhaul everything
While state and local taxes in Washington are more regressive than the average state, the state tax-reform committee in 2002 reported, “When federal income taxes are added, the total tax burden in Washington is progressive.” The capitol gains tax would be a mistake. It would have a negligible impact on tax fairness. It would risk driving investment out of state.
Gov. Jay Inslee met with the Capitol press corps Thursday morning to discuss a variety of topics ranging from state employee and teacher pay, opening up the state’s collective bargaining process, and potential ballot measures in 2016 if the Legislature doesn’t pass cap-and-trade or a minimum wage increase this session.