Blog

The Department of Revenue has posted its annual Revenue Alternatives list

Before each legislative session, the state Department of Revenue produces a list showing the state revenue impact of various possible tax rate increases. Here is the new version, based on the November 2014 revenue forecast:

Seattle Times on education, transportation, and Inslee's budget proposal

Education and transportation look to be main areas of work for the Legislature in the upcoming session. Over the weekend, the Seattle Times had a few interesting items on these topics, in light of Gov. Inslee’s 2015-17 budget proposal. First, regarding the governor’s transportation plan, the paper points to a letter from state Treasurer Jim […]

Education a focus of governor's budget proposal

Including maintenance level spending, Gov. Inslee’s 2015-17 budget proposal would increase near general fund-state plus opportunity pathways (NGFS+) spending by $5.2 billion over 2013-15. Inslee’s proposal, although it would increase taxes, notes, “Given the size of the budget shortfall heading into the 2015–17 biennium, some spending cuts are necessary.” (To the tune of $211 million.) […]

Governor's proposed capital gains tax: Considering possible negative consequences

As Kriss wrote yesterday, the governor’s budget includes a new capital gains tax  (link to detail on governor’s web page is currently down). The essence: The Governor proposes a new capital gains tax on the sale of stocks, bonds and other assets to increase the share of state taxes paid by our state’s wealthiest taxpayers. The […]

Governor Inslee releases $39 billion budget proposal

Governor Jay Inslee released his proposed budget for the 2015-17 biennium this morning. Under the governor’s plan, the state would spend $38.99 billion from the NGFS+ accounts during 2015-17. The represents a 15.4 percent increase from current NGFS+ appropriations for the 2013-15 biennium. (The NGFS+ combines the general fund-state, the education legacy and the opportunity […]

Governor proposes $12 billion transportation plan fueled largely by new carbon fee (or is it a tax?)

Gov. Inslee launched the 2015 transportation finance debate yesterday, unveiling an ambitious plan and introducing a new “cap and trade” program. From the news release: Rather than raise the gas tax on all motorists, the plan would be funded largely through fees and bonding as well as on a new carbon pollution charge. Sources of […]

Governor proposes $2.3 billion education package, doesn't fund I-1351 class size reduction

Gov. Jay Inslee launched his extended budget rollout by focusing on education. This is, of course, the fun part of the rollout, talking about what the new spending will buy before having to get to the grit of new taxes. It’s, well, let’s just use the governor’s own characterization, Inslee proposes boldest new efforts in […]

State budget must invest wisely in education: Yes to STEM, No to I-1351 Class Size Measure

This week Gov. Jay Inslee rolls out his 2015-2017 budget proposals. Education funding will take center stage, driven by the state Supreme Court’s McCleary mandate and voter-approved (narrowly) class size reduction Initiative 1351. While I-1351, which adds $4.7 billion in new spending over the next four years, is clearly unaffordable, lawmakers are expected to add […]

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 […]