Outlook for 2013-15 Under the Budget Passed by the Legislature
A number of folks have inquired about the budgetary outlook for the 2013–15 biennium under the supplemental budget passed last week by the legislature. The Office of Financial Management, I have been told, will prepare a 2015–15 outlook after Governor Gregoire completes her actions on bills passed in the session. Until the formal OFM outlook […]
April 18 , 2012 - Richard S. Davis
New Pew Center on the States report evaluates evaluations of tax incentives
In my column today, I comment on a recent report by the Pew Center on the States. The study, Evidence Matters, examines how states evaluate tax incentives. From the column: Pew identifies Washington as one of 13 states “leading the way” in the systematic evaluation of tax incentives. Washington’s review process does a good job […]
April 11 , 2012 - Emily Makings
Policy Changes in the Supplemental Budget
Earlier today, Dick wrote about the newly-enacted supplemental budget. Policy level reductions in the bill total $295 million–smaller than all previous proposals except the one the House passed March 8, which would have reduced policy level spending by $293 million (after adjusting to remove the effect of the school apportionment shift). The enacted bill reduces […]
April 11 , 2012 - Richard S. Davis
Lawmakers leave Olympia with balanced budget and structural reforms
Although it took a few hours of a second special session (consider it stoppage time), the state legislature adjourned this morning with a balanced budget and some important structural reforms. Rachel La Corte has a good, brief report for AP on the session’s final hours and accomplishments. Here’s the governor’s statement. Acknowledging the difficult challenge […]
April 11 , 2012 - Kriss Sjoblom
March 11 – April 10 State Revenues $24.9 Million Above Forecast
Hours after legislators decamped from the capital, the state Economic and Revenue Forecast Council’s monthly Economic and Revenue Update provided a bit of fiscal good news: Collections for the March 11 – April 10 period were $24.9 million above forecast. Collections for the preceding February 11 – March 10 period (reported on March 12) were […]
April 10 , 2012 - Richard S. Davis
Why pension reform matters
Kriss’s post below neatly lays out the argument for reforming the state pension system, one of the remaining issues under discussion in the 11th hour discussions in Olympia today. The Research Council has paid close attention to pension issues over the years, for example in the 2011 policy brief, Reforming Public Pensions. The Seattle Times today […]
April 10 , 2012 - Kriss Sjoblom
State-Run Pensions: Reform Early Retirement
Pensions remain one of three reform issues holding up completion of the supplemental budget. In an earlier post, Emily described the pension reform bill passed by the Senate during the regular session. The most recent public proposal from the Senate Republican-Democrat coalition is narrower, focusing solely on early retirement (see the Baumgartner amendment here). Normal […]
April 06 , 2012 - Richard S. Davis
Risk of economic slowdown reinforces need for a sustainable state budget
The Wall Street Journal headline sounds the alarm: Job Growth Loses Steam The government’s main snapshot of the labor market showed employers added 120,000 jobs in March, half the upwardly revised number of the month before. That snapped a three-month streak of 200,000-plus jobs growth, the economy’s best showing since 2006. There were bright spots: […]
April 06 , 2012 - Richard S. Davis
House passes another budget, reform prospects still in doubt
No one need worry about whiplash incurred by following the slow budget lobs across the rotunda. The House passed another budget proposal yesterday. Olympian reporter Brad Shannon calls it a fresh sign of life. The plan’s fate in the Senate, which is missing Republican Leader Mike Hewitt due to health issues, remains unclear. Lt. Gov. […]
April 04 , 2012 - Emily Makings
New House Supplemental Proposal
The latest supplemental proposal is a striking amendment from Rep. Hunter. There’s a lot more of the same (this is the fifth different supplemental proposal): fund transfers, new revenue, spending reductions. In the two supplementals the House has already passed (2/29 and 3/8), a one-day delay in school apportionment payments was included, as a way […]