New Brief: Repealing I-728, Grading Teachers, and Other 2012 Education Reforms
The legislature passed several education reform bills this year, which we consider in this policy brief. Significantly, as part of the budget compromise, legislators finally repealed I-728. By doing so, they helped clear the way for basic education funding needs. They also improved the 2013-15 fiscal situation by removing I-728 from the maintenance level. In […]
April 23 , 2012 - Richard S. Davis
Rockefeller Institute reports state collections recover nationally, not yet here
The Nelson A. Rockefeller Institute of Government reports that two successive years of growth have pushed states’ revenues abover the pre-recession peak. The full study is available here. States’ tax collections grew for the eighth straight quarter at the end of 2011, for the first time topping peak revenue levels seen at the beginning of […]
April 20 , 2012 - Richard S. Davis
Sluggish economy a concern for state revenues?
The Wall Street Journal warns of another springtime stall in the economic recovery. The usual suspects are implicated. Rising layoffs, falling home sales and slowing manufacturing activity are sparking fears that the economic recovery is headed for a springtime stall for the third year in a row. Naturally, there’s an “on the other hand.” But […]
April 20 , 2012 - Emily Makings
New Brief: Legislature Closes the 2011-13 Budget Gap, At Last
Our overview of the 2012 supplemental passed by the legislature last week is here. Future briefs will focus on the reforms that were passed as part of the compromise, and readers should keep in mind that the governor will not act on the budget bill until May 2 (so the numbers are still in flux). […]
April 18 , 2012 - Kriss Sjoblom
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 - 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 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 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 […]