New brief: Legislature Adopts New Taxes to Increase 2019–21 Spending by 18.3 Percent
Appropriations for 2019–21 from funds subject to the outlook and the new workforce education investment account total $52.852 billion (pending gubernatorial action), an 18.3 percent increase over 2017–19. That includes $2.367 billion of spending on new policy. Major new spending items include funding the collective bargaining agreements with state employees and school employee health benefits, […]
April 18 , 2019 - WRC
New policy brief: House- and Senate-Passed Operating Budgets Would Increase Taxes to Pay for Billions in New Policy Spending
State revenues from current sources are estimated to reach $50.555 billion in 2019–21, enough to cover the 2019–21 maintenance level (the cost of continuing current services). On top of the maintenance level, the House has passed a 2019–21 operating budget that would increase appropriations by $2.421 billion from funds subject to the outlook and the […]
April 10 , 2019 - WRC
New brief: Comparing the 2019-21 Operating Budgets
The House and Senate have each passed 2019–21 operating budgets. The House-passed budget would appropriate $52.934 billion from funds subject to the outlook and another $389.6 million from a new workforce education investment account (WEIA). The Senate-passed budget would appropriate $52.181 billion from funds subject to the outlook ($1.143 billion less than the House, including […]
April 05 , 2019 - WRC
New brief: A Capital Gains Tax Would Not Improve Budget Sustainability
Although the March revenue forecast increased estimated state revenues for the 2017–19 and 2019–21 biennia, the House Appropriations Committee Chair proposed a new capital gains tax along with his 2019–21 operating budget. The Senate is also considering a capital gains tax, although in this case the proceeds would be used to reduce other taxes rather […]
April 02 , 2019 - WRC
New brief: Senate Ways and Means Committee Chair’s Proposed Operating Budget Would Increase Spending by $7.5 Billion
The 2019–21 operating budget proposed by the Senate Ways and Means Committee Chair would increase appropriations from funds subject to the outlook by $7.511 billion (16.8 percent) over 2017–19. Of that, $1.667 billion is due to spending on new policy, while maintenance level changes (the cost of continuing current services, including the response to the […]
March 27 , 2019 - WRC
New policy brief: House Appropriations Chair’s Proposed Operating Budget Would Increase Spending by $8 Billion
The House Appropriations Committee Chair has proposed a 2019–21 operating budget that would appropriate $52.811 billion from funds subject to the outlook (NGFO). This is an increase of $8.150 billion (18.2 percent) over 2017–19 appropriations. This increase would be the largest in at least 25 years, after a 17.9 percent increase in 2005–07 and a […]
March 07 , 2019 - WRC
New brief: A Tax Expenditure Budget Wouldn’t Improve State Tax Policy
In a new policy brief, we look at a proposed “tax expenditure budget.” PSHB 1703 would expire tax preferences (the state’s collective term for exemptions, exclusions, deductions, deferrals, credits, and preferential tax rates) unless they are readopted by the Legislature each biennium as part of a “tax expenditure budget.” Washington’s current tax preference review process […]
February 12 , 2019 - WRC
Economic Profile: The Economic Contribution of Washington State’s Petroleum Refining Industry in 2017
In a new report, we look at the impact of Washington’s five major petroleum refiners on the state’s economy in 2017. In 2017, the refiners directly provided 2,171 full-time jobs, paying an annual average wage of $129,132. In addition, the refiners employed, at high wages, 2,658 contract workers on an average day, doing maintenance, capital […]
January 11 , 2019 - WRC
New policy brief: Washington Businesses Pay More Than Half of State and Local Taxes
The upcoming legislative session will feature discussions about whether new revenues are necessary; inevitably there will be legislative proposals to increase business taxes. According to a report from the Council on State Taxation, businesses in Washington paid 50.1 percent of state and local taxes in 2017, well above the U.S. average of 43.7 percent. Additionally, […]
January 04 , 2019 - WRC
New policy brief: Washington’s Budget Sustainability Requirements Work When Followed
Washington’s four-year balanced budget requirement and constitutionally-protected rainy day fund promote state budget sustainability. The requirement that budgets balance over four years helps to limit the use of budget gimmicks and to prevent unsustainable bow wave spending. Reserves improve sustainability by providing a cushion for emergencies and limiting major program cuts during economic downturns. Because […]