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November 11–December 10 state revenue collections were $1.5 million below 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 November 11 – December 10, 2014 collection period were $1.5 million (0.1%) lower than the November forecast. Revenue Act collections were $14.9 million […]

Transportation funding, climate change and the electric car tax incentive … skeptics want to tap the brake

Gov. Jay Inslee believes electric cars are good for the state and good for the planet. And he’s looking for ways to promote them. …Inslee wants to extend a sales-tax break for electric vehicles and explore giving them access to carpool lanes…[Also, he] said he wants to install more charging stations and create incentives for builders […]

Battle over education waivers continues here; Oklahoma waiver reinstated. Higher education fighting back.

The Associated Press reports that the coming legislative session will likely feature a continuation of the No Child Left Behind battles that cost districts control of some $38 million in federal funding. Here’s the crux: At issue during the 2014 legislative session was whether to require that student scores on statewide tests be used as one […]

Making the most of education investment: maintain standards, target early learning, scrap 1351

The headline summarizes some recent editorial observations. And nicely comports with budget realities. The News Tribune takes a strong editorial stand in support of academic accountability. At a time when the world is demanding more of high school graduates, Washington’s public schools shouldn’t be demanding less. Washington and many other states are phasing in the […]

New general fund–state revenue forecast: up $107.9 million for 2013–15 biennium; up $241.3 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 $107.9 million to $33,439.8 million. The forecast of general fund-state revenue for the upcoming biennium (2015–17) increased by $241.3 million to $36,319.5 million. This is the seventh consecutive meeting […]

Clarifying the 2015 budget picture

Kriss posted yesterday on the improved revenue picture. As Brad Shannon reports, the higher revenue collections are accompanied by higher caseload and enrollment numbers. State budget director David Schumacher told the Caseload Forecast Council meeting in Olympia that an expected increase in K-12 school enrollments alone may add $380 million to the state’s costs through June 2017, which […]

Voters delivered a sensible message: What it means for 2015

In my column yesterday I assessed last week’s election, finding parallels between the national and Washington state outcomes. Using national trends to interpret our state elections can be risky. We’re different out here and proud of it. But last week showed some unmistakable signs that the wave sweeping most of the country splashed us as […]

September 11–October 10 state revenue collections were $14.4 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 October 11 – November 10, 2014 collection period were $53.7 million (4.1%) higher than the September forecast. $50.0 million of the surplus came […]

Supporting biotech and more with growth-oriented tax policy

H. Stewart Parker, a pioneer in Washington’s life sciences industry, writes in today’s Seattle Times that our state risks falling behind in the competition for biotech investment. Washington has a lot going for it business-wise, but we must not underestimate the competition for the life-sciences industry. The Washington state Legislature did not renew our industry tax […]

Next year's legislature must address transportation funding

In my column today, I revisit the Washington Roundtable-Boston Consulting Group report we posted on last week. According to BCG, a $7 billion investment would return $42 billion in value over 30 years. The benefits show up in reduced congestion costs, improved safety, lower vehicle operating costs, expanded port activity, and lower future repair costs. […]