New report: State Budgeting in the Great Recession, and Lessons for Today
The June revenue forecast reduced estimated state revenues by $4.540 billion (8.7 percent) in 2019–21 and by $4.342 billion (7.8 percent) in 2021–23. While the current recession seems to be deeper than the Great Recession, there is hope that its duration will be shorter. Still, there are lessons to be gleaned from how the state […]
New brief: How Much of the State Budget is “Protected”?
The Office of Financial Management estimates that about 70 percent of the 2019–21 budget is protected from cuts. If that is the case, then any budget cuts to offset the revenue effects of the COVID-19-related downturn would need to come out of the remaining 30 percent of the budget. However, these figures are essentially a […]
New brief: While Acknowledging the Increasingly Negative Economic Outlook, the Legislature Increases Appropriations by 20.5 Percent
Acknowledging the quickly worsening public health and economic circumstances in the last few weeks of session, the Legislature passed a 2020 supplemental operating budget that appropriates less than either of the earlier Senate-passed or House-passed proposals. Still, it increases appropriations from funds subject to the outlook plus the workforce education investment account (NGFO+WEIA) by $975.8 […]
New brief: House-Passed Budget Would Increase 2019–21 Appropriations by $1.178 billion—21.0 Percent Above 2017–19
The House has passed a 2020 supplemental operating budget that would increase 2019–21 appropriations from funds subject to the outlook plus the workforce education investment account (NGFO+WEIA) by $1.178 billion. If adopted, revised 2019–21 appropriations would increase by 21.0 percent over 2017–19. The House- and Senate-passed operating budgets are very similar. Neither would increase taxes […]
New brief: Senate-Passed Budget Would Increase 2019–21 Appropriations by $1.132 billion—20.9 Percent Above 2017–19
Given the forecast revenue increases since the 2019–21 biennial operating budget was enacted last year, the Senate-passed supplemental operating budget would not rely on new taxes and it would not make appropriations from the rainy day fund. It would increase 2019–21 appropriations from funds subject to the outlook plus the workforce education investment account (NGFO+WEIA) […]
New brief: Comparing the 2020 Supplemental Operating Budgets
The Senate and House have each passed supplemental operating budgets for 2019–21. The Senate-passed budget would increase 2019–21 appropriations from funds subject to the outlook (NGFO) and the workforce education investment account (WEIA) by $1.132 billion. The House-passed budget would increase appropriations from the NGFO+WEIA by $1.178 billion. Most of the difference between the two […]
New brief: Washington’s Business Taxes Exceed National Average
Washington’s tax structure relies heavily on businesses. Before significant new taxes were enacted last year, Washington businesses paid about half of state and local taxes in 2018. That year, Washington ranked 6th highest in business taxes per employee, 18th highest in taxes as a share of business output and 13th highest in the share of […]
New brief: Preemptively Overhauling the Workforce Education Investment Surcharge
One of the major new taxes adopted last year was the workforce education investment business and occupation (B&O) tax surcharge. Appropriations were also made last year from the new workforce education investment account (WEIA) to fund higher education programs. The Legislature is now working to overhaul the surcharge to address three issues: (1) Administrative and […]
New brief: Gov. Inslee’s 2020 Supplemental Operating Budget Would Tap the Rainy Day Fund
Economic growth since the 2019 legislative session ended means that the Legislature has $1.016 billion more to work with over four years than it did when the biennial budget was adopted. Gov. Inslee has proposed a 2020 supplemental operating budget that would appropriate $318.7 million from the budget stabilization account (BSA, or rainy day fund) […]
New brief: I-976: Reversing Transportation Taxes and Fees
I-976 would limit annual state and local vehicle license fees to $30, revoke the authority for transportation benefit districts to impose vehicle fees, repeal the state motor vehicle sales tax, revoke Sound Transit’s authority to impose a motor vehicle excise tax (if possible to do so under the terms of its bonds), and specify that […]
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