July 11 – August 10 state revenue collections were $62.4 million above forecast
This afternoon the Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update. Here are the key bullets on revenue from the summary: Major General Fund-State revenue collections for the July 11 – August 10, 2014 collection period were $62.4 million (5.1%) higher than the June forecast. $55.4 million of the collection surplus […]
July 16 , 2014 - Kriss Sjoblom
June employment report shows state gained 9,100 jobs from April to May
The state Employment Security Department issued its employment report for June this morning. The preliminary estimate is that seasonally adjusted employment in Washington grew by 9,100 from May to June. The estimate of April to May job growth was revised downward to 1,000, from the preliminary figure of 4,000 announced in last month’s report. The preliminary […]
July 15 , 2014 - Kriss Sjoblom
New Policy Brief: About That Mythical $8.7 Billion Tax Break . . .
We have posted a new policy brief regarding aerospace tax incentives: About That Mythical $8.7 Billion Tax Break . . . Briefly: A competitive tax policy is not a “subsidy” that costs the state money. It is, rather, a pragmatic response to the marketplace, including the global competition for major industrial projects. Tax policies adopted […]
July 11 , 2014 - Kriss Sjoblom
June 11 – July 10 state revenue collections were $26.5 million above forecast
This afternoon the Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update. Here are the key bullets on revenue from the summary: Major General Fund-State revenue collections for the June 11 – July 10, 2014 collection period were $26.5 million (2.0%) higher than the June forecast. Revenue Act collections were $19.5 million […]
June 19 , 2014 - Kriss Sjoblom
Loopholes? Really?
Over on the Taxgirl blog, Kelly Phillips Erb ponders press coverage of Bill and Hillary Clinton’s estate tax reduction strategies (Admit It: The Clintons Didn’t Do Any Tax Planning You Wouldn’t Do). Along the way, she discusses the misuse of the term “tax loophole.” We all want to criticize tax reduction strategies as somehow un-American […]
June 18 , 2014 - Kriss Sjoblom
Video of Wednesday Economic and Revenue Forecast Council meeting
Here is a link to yesterday’s meeting of the Economic and Revenue Forecast Council:
June 18 , 2014 - Kriss Sjoblom
May employment report shows state gained 4,000 jobs from April to May
The state Employment Security Department issued its employment report for May this morning. The preliminary estimate is that seasonally adjusted employment in Washington grew by 4,000 from April to May. The estimate of March to April job growth was revised upward to 8,900, from the preliminary figure of 7,700 announced in last month’s report. The […]
June 17 , 2014 - Kriss Sjoblom
New general fund state revenue forecast: up $156 million for 2013-15 biennium; up $234 million for 2015-17 biennium
The state Economic and Revenue Forecast Council (ERFC) held its quarterly meeting today. The forecast of general fund-state revenue for the current biennium (2013-15) increased by $156.6 million to $33,169.9 million. The forecast of general fund-state revenue for the upcoming biennium (2015-17) increased by $238.3 million to $35,935.2 million. Budget reports from legislative fiscal committees […]
June 11 , 2014 - Kriss Sjoblom
May 11 – June 10 state revenue collections were $60.5 million above forecast
This morning the Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update. Here are the key bullets on revenue from the summary: Major General Fund-State revenue collections for the May 11 – June 10, 2014 collection period were $60.5 million (3.4%) higher than the February forecast. Cumulatively, collections are now $122.2 million […]
May 14 , 2014 - Kriss Sjoblom
April employment report shows state gained 7,700 jobs from March to April
The state Employment Security Department issued its employment report for April this morning. The preliminary estimate is that seasonally adjusted employment in Washington grew by 7,700 from March to April. The estimate of February to March job growth was revised upward to 8,300, from the preliminary figure of 6,700 announced in last month’s report. The […]