As CCA revenues are expected to decline, Legislature reworks their distribution
In the supplemental budgets, the Legislature increased 2025–27 appropriations from climate commitment act (CCA) accounts by $1.125 billion. Of that, $89.0 million was in the operating budget, $839.9 million was in the capital budget, and $196.5 million was in the transportation budget. (As I showed last month, $539.9 million of the capital CCA appropriations is […]
January 08 , 2026 - Emily Makings
CCA revenues are expected to decline sharply in 2027–29, so using them to fund the working families tax credit would be an unsustainable one-time deal
Gov. Ferguson’s 2026 supplemental operating budget proposal would shift funding for working families tax credit (WFTC) remittances from the general fund–state (GFS, which is a fund subject to the outlook) to the climate commitment account (CCA) for 2025–27. Although the WFTC is an allowable use of the CCA (RCW 70A.65.260(1)(a)), making the shift would mean […]
March 13 , 2025 - Emily Makings
December forecast of Climate Commitment Act revenues is $201.6 million lower than the June forecast (over five years)
The Department of Ecology estimates that carbon emission allowance auction proceeds will total $2.248 billion in 2023–25, $1.643 billion in 2025–27, and $1.248 billion in 2027–29. Compared to Ecology’s Nov. 2023 forecast (on which enacted appropriations from Climate Commitment Act accounts were based), the December 2024 forecast is $330.2 million lower for 2023–25 and $129.8 […]
December 03 , 2024 - Emily Makings
Dept. of Agriculture requests major funding increase for food assistance
General fund–state (GFS) appropriations for the Department of Agriculture were effectively flat from 2011–13 through 2019–21. Then, appropriations (adjusted for inflation) jumped 120.8% in 2021–23 and another 46.4% in 2023–25. Now, the department is requesting an increase of 56.7% for 2025–27. The total requested GFS increase of $89.3 million is comprised of a carry-forward level […]
November 15 , 2024 - Emily Makings
Department of Fish and Wildlife requests a 37% budget increase
General fund–state (GFS) spending for the Department of Fish and Wildlife (DFW) has increased substantially since 2017–19. Now, the department is requesting an operating budget increase of 37.2% for 2025–27. Under the request, GFS appropriations would be $475.0 million. (See the box at the bottom of this post for budget and fund terminology.) New policy […]
October 16 , 2024 - Emily Makings
Our policy briefs on the initiatives, in one place
Ballots for the general election are being mailed out this week. Three initiatives on the ballot would have fiscal impacts for the state, and we’ve written policy briefs on each of them: The briefs explain what the initiatives would do and provide important context about how they would affect state revenues and programs.
October 08 , 2024 - WRC
New brief: I-2117: Repealing the Climate Commitment Act
Initiative 2117 would repeal the Climate Commitment Act (CCA). The CCA was enacted in 2021 with the goal of reducing carbon dioxide emissions in the state to 5% of 1990 levels by 2050. The average price of carbon emission allowances at 2023 auctions was $54.74, more than twice the $22.78 anticipated in the 2021 fiscal […]
September 12 , 2024 - Emily Makings
September carbon emission allowance auction proceeds were below forecast, growing the CCA budgetary imbalance
On September 4, the Department of Ecology sold 5,260,000 carbon emission allowances at a price of $29.88. Consequently, the amount collected by the state was $157.2 million. State revenues from the allowance auctions to date now total $2.306 billion. However, the revenues from the September auction are $59.5 million below what was assumed in Ecology’s […]
July 09 , 2024 - WRC
New report: Where Does All the Money Go: Spending Carbon Emission Allowance Auction Proceeds in the Shadow of I-2117
Washington has collected $2.149 billion to date from carbon emission allowance auctions. That’s $1.484 billion more than was expected when the Climate Commitment Act (CCA) was enacted in 2021, as the actual auction prices were higher than anticipated. The windfall, combined with the possibility that the CCA will be repealed in November if voters approve […]
July 08 , 2024 - Emily Makings
June forecast of climate commitment act revenues for 2023-25 is down $313.9 million
The Department of Ecology now estimates that carbon emission allowance auction proceeds will total $2.264 billion in 2023–25. That’s $313.9 million less than had been forecast in November. Similarly, the new forecast for 2025–27 is $139.0 million below the November forecast. Revenues from the December 2023 auction were $55.0 million higher than assumed in the […]