Richard S. Davis

Boeing contract a good deal for all Washingtonians … bonus checks tomorrow

As part of the agreement ratified last week by Boeing Machinists, members get a $5,000 signing bonus. The checks go out tomorrow, a day I call Boeing Thursday in this morning's column in The Herald of Everett. Not quite Cyber Monday or Black Friday, but a good deal for Puget Sound area retailers and our […]

Washington ranks 7th on Forbes "best states for business" list

In a lousy economy these rankings tend to get less attention. Given that the "best states" concept is itself full of subjective assessments, that's probably not a bad thing.  But for the list inclined, here's the Forbes scorecard. Utah's No. 1; Maine comes in last. 

Perspective on changes in state revenue collections

In my column this morning, I discuss how and why state revenues have fallen as a share of the economy. State revenues have fallen as a share of the economy. But it’s mostly because taxpayers rejected the higher burdens. Please go to the column for context. And, yes, revenues have even fallen since 1995 on […]

State revenues recovering slowly – still below peak

After yesterday’s forecast, we received some questions about how state revenues have performed historically. Kriss put together a graph showing Near General Fund State (NGFS) collections, including the forecast through 2013. These projections show tax receipts not climbing back to 2008 levels until the end of the biennium. This chart, tracking NGFS spending since 2000, […]

Will Washington voters approve higher taxes? It's a tough sell.

In my column this morning, I take a look at recent election results and the state revenue collections report to consider the likelihood of voter approval of new taxes to balance the state budget. It’s never risky to bet against tax hikes. Good times or bad, voters are reluctant to part with their money. Colorado […]

A look at the budget math for the special legislative session (and the general)

In my column in The News Tribune this morning, I examine the tough math facing lawmakers and the governor as they try to balance the state budget, which now faces a $2 billion gap between available revenues and planned spending. The economy, under the most optimistic growth scenarios, will not grow fast enough to fill […]

Boeing CEO explains what business wants from the other Washington

A good op-ed by Boeing CEO Jim McNerney appears in today’s Wall Street Journal. For the good of the nation, our elected leaders must now find it within themselves to pass sound laws, regulate judiciously, and put aside escalating tactical political battles. If the super committee succeeds [in its deficit-reduction mission], the White House and […]

Governor wants state workers to pay more for health care benefits…they decline

State workers enjoy significantly richer health care benefits than do most private sector employees, as documented in this Thrive Washington paper. Currently, Washington pays 88 percent of the premium costs for state employees for individual or family coverage.  In 2003-05, state employees paid, on average, 16.3 percent of the cost of their coverage (up from 6 percent in FY2001). […]

Taxes on table in NY, Colorado; California governor wants pension reform

As Washington lawmakers look at bleak budget options, they may find some guidance in proposals elsewhere. Colorado voters decide the fate of Proposition 103 next Tuesday. Stateline.org describes it this way: Proposition 103, a measure that would increase sales and income taxes to provide money for public education. The controversial measure, which would generate $2.9 […]

Gregoire on Cutting $2 Billion from State Budget: "Dreadful"

Consider Gov. Gregoire's press conference yesterday the kickoff for the official annual budget contest (it just doesn't seem appropriate to call something this consequential a "game"). As Austin Jenkins writes in the Washington Ledge, the conference had an air of deja vu. Throughout the recession, we've witnessed many such announcements, with many of the same […]