Washington Research Council

Kriss Sjoblom

November 18 , 2022 - Kriss Sjoblom

Forecast of state revenues increased

At its quarterly meeting today, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts add more than $1.4 billion to the amount available over the current and next bienniums. Budget reports from legislative fiscal committees typically roll up four accounts: the general fund–state, the education legacy trust […]


November 16 , 2022 - Kriss Sjoblom

November report on state tax collections: revenues for the month exceeded forecast by $157 million

Yesterday the state’s Economic and Revenue Forecast Council (ERFC) issued its monthly report on general fund revenue collections. This report covers payments received between October 11 and November 10 for the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest (collectively the […]


November 15 , 2022 - Kriss Sjoblom

Tax Structure Work Group Nov. 14 Meeting

The Washington legislature’s Tax Structure Work Group (TSWG) met yesterday. Under a proviso in the 2021-23 state budget, TSWG is to develop revenue neutral state tax reform legislation for the 2023 session of the legislature. At its March 30 meeting, TSWG selected 5 reform concepts tor further elaboration and analysis by staff at the Department […]


October 20 , 2022 - Kriss Sjoblom

Interest rates move higher

The quarterly forecast of state tax revenue prepared by the state Economic and Revenue Forecast Council (ERFC) is based upon an economic forecast also prepared by ERFC. In my September 21 post on the update to the revenue forecast, I observed that materials released earlier that day by the Federal Reserve Board’s Open Market Committee […]


October 17 , 2022 - Kriss Sjoblom

October report on state tax collections: revenues for the month exceeded forecast by $126 million

On Friday the state’s Economic and Revenue Forecast Council (ERFC) issued its monthly report on general fund revenue collections. This report covers payments received between September 11 and October 10 for the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest (collectively […]


September 21 , 2022 - Kriss Sjoblom

State revenue forecast down $452 million

At its quarterly meeting today, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts reduce the amounts available over the remainder of the current biennium and the next biennia by $452 million. Budget reports from legislative fiscal committees typically roll up four accounts: the general fund–state, the […]


September 17 , 2022 - Kriss Sjoblom

September report on state tax collections

On Thursday the state’s Economic and Revenue Forecast Council (ERFC) issued its monthly report on general fund revenue collections. This report covers payments received between August 11 and September 10 for the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest (collectively […]


July 17 , 2022 - Kriss Sjoblom

July report on state tax collections

The monthly report on general fund revenue collections from the state’s Economic and Revenue Forecast Council (ERFC) was issued on Friday. This report covers payments received between June 11 and July 10 for the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and […]


June 29 , 2022 - Kriss Sjoblom

New analysis projects much higher prices for carbon allowances under the Climate Commitment Act

In 2021 the legislature passed and the governor signed E2SSB 5126 (the Climate Commitment Act [CCA]) establishing a cap and invest system to regulate and reduce the emission of carbon dioxide (CO2) and other greenhouse gasses in Washington state. Under the CCA the state will annually sell at auction tradable emissions allowances. Each allowance would […]


June 23 , 2022 - Kriss Sjoblom

Inflation clouds the outlook for state revenues

At its quarterly meeting yesterday (June 22), the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts add nearly $2.3 billion to the amounts available over the remainder of the current biennium and the next two biennia. These gains, however, are totally erased by increases in the forecast […]