New Brief: Implementing Washington's Health Benefit Exchange
The Patient Protection and Affordable Care Act (federal health care reform) is a hot topic these days, as the Supreme Court is expected to release its decision on the constitutionality of the law soon. One part of the federal legislation is a requirement that states establish health benefit exchanges through which individuals and small businesses […]
June 20 , 2012 - Richard S. Davis
Official June revenue forecast little changed, risk factors remain high
The economic and revenue forecast council is meeting now to receive the official revenue forecast from interim director Steve Lerch. Here are the numbers: Changes to the economic forecast, which were slight, have resulted in a $16.1 million reduction to the General Fund-State (GF-S) revenue forecast for the current biennium and $132.9 million for the […]
June 14 , 2012 - Richard S. Davis
Washington shows well in U.S. Chamber's 2012 "Enterprising States" report.
The 2012 Enterprising States report from the National Chamber Foundation, an affiliate of the U.S. Chamber of Commerce, contains a lot of praise for Washington’s economic performance and outlook. Here’s a snapshot of the state’s rankings on the measures used in the report. Note that on none of the criteria does Washington fall below the […]
June 13 , 2012 - Kriss Sjoblom
Preliminary estimate of 11,700 jobs added in Washington in May is likely to be revised downward
The state Employment Security Department released the Monthly Employment Report for May this morning. The preliminary estimate is that the state added 11,700 jobs from April to May. As I noted in an earlier post, initial estimates of employment are sometimes subject to significant revisions. The figure released today is likely to be revised downward […]
June 13 , 2012 - Richard S. Davis
Candidates here will have to address Wisconsin recall results, collective bargaining
Both major party candidates in this year’s election have said they don’t expect it to be Wisconsin redux. Collective bargaining for public employee unions and Wisconsin Gov. Scott Walker didn’t figure at all in yesterday’s debate in Spokane, sponsored by the Association of Washington Business and Greater Spokane, Inc. In my column this morning, I […]
June 11 , 2012 - Kriss Sjoblom
May 11 to June 10 state revenue collections were $15.1 million greater than forecasted
The Economic and Revenue Forecast Council’s monthly Economic & Revenue Update is out today. For the May 11 to June 10 month, “headline” general fund–state revenue collections were $15.1 million greater than the forecast. However, excluding special factors–$16.3 million in unanticipated refunds and a $31.4 million one-time transfer to the general fund–collections were $1.1 million […]
June 08 , 2012 - Richard S. Davis
Wisconsin recall election matters here, though not all agree
Does the Wisconsin recall election matter outside the Gopher State? Until Walker's win by a large margin Tuesday, organized labor thought so. Now, not so much. Fiscal conservatives hoping to rein in public employee compensation, particularly high pension and health insurance costs, thought the election mattered all along. Now, they see it as mattering even […]
May 29 , 2012 - Richard S. Davis
Why Coal Continues to Matter
In his column today, AWB president Don Brunell weighs in on the “war on coal.” Specifically, he looks at the mounting challenges to proposed shipping terminals in the Northwest. Don points out that, although such projects are already subject to a review process including an Environmental Impact Statement, opponents want more. But opponents want to […]
May 25 , 2012 - Kriss Sjoblom
Preliminary Economic Forecast Posted by Economic and Revenue Forecast Council
The preliminary quarterly update to the Economic and Revenue Forecast Council’s forecast of the state economy was posted on Wednesday. The summary memo to the Governor’s Council of Economic Advisers is here. Detailed tables are here. The preliminary forecast will be reviewed at a public meeting in Olympia on May 31, and may be revised […]
May 22 , 2012 - Kriss Sjoblom
Increased Federal Tax on Sales of Partnerships Will Cost Washington Jobs and Income
Recent federal proposals would apply ordinary income tax rates rather than capital gains rates to gains from sales of investment service partnership interests. According to our analysis, this change could reduce annual personal income in Washington state by almost $300 million. Our Policy Brief on the subject is available here.