Comparative State and Local Taxes
On Thursday the Department of Revenue released this year’s edition of its annual report Comparative State and Local Taxes link. The primary data in the new report come from the Census Bureau’s 2007 Census of Government Finance. For 2006/2007, DOR calculates that state and local tax collections in Washington amounted to $109.25 for each $1,000 […]
October 23 , 2009 - Kriss Sjoblom
Arun Raha
On Wednesday I saw Arun Raha, Executive Director and chief economist for the state Economic and Revenue Forecast Council, speak to the University of Washington Economics Department’s Visiting Committee. The slides from the talk available in both color (best for viewing on line) and black and white (best for printing) on the ERFC website. Arun […]
October 19 , 2009 - Richard S. Davis
Governors Enlist Interest Groups in Effort to Boost Taxes
The Wall Street Journal today carries a story pegging of Delaware Gov. Jack Markell's efforts to get voters to understand the state's budget shortfall. It's a strategy many governors, including Gov. Gregoire, are using as they look ahead to years of structural deficits, exacerbated by steep and prolonged revenue declines. Does this sound familiar? "Elected […]
October 12 , 2009 - Richard S. Davis
A Roundup of Recent I-1033 Stories and a Reminder
First, the reminder: If you haven’t done so yet, take a look at the Washington Research Council analysis of Initiative 1033. The initiative caps growth in state revenues, returning revenue above the limit to property taxpayers. The WRC report shows how this works in practice. As the election nears, the campaigns gets a little warmer. […]
October 01 , 2009 - Kriss Sjoblom
Initiative 1033
TVW has video coverage of proponents and opponents debating debating Initiative 1033 before the Seattle Times editorial board. WRC groupies will particularly enjoy the segment running from 30:15 to 33:15.
September 29 , 2009 - Kriss Sjoblom
Seattle Times Editorial
Our Brief Seattle’s Lost Decade was mentioned in an editorial in today’s Seattle Times that urged repeal of the city’s “head tax” on employers.
September 17 , 2009 - Kriss Sjoblom
September Washington State Revenue Forecast
The September forecast reduced combined general fund revenues for the 2007–09 and 2009–11 biennia by $238 million. For the broader near general fund, the reduction was $230 million. Our brief on the forecast is available here.
September 13 , 2009 - Kriss Sjoblom
September Economic and Revenue Update
Last Friday (September 11), the Forecast Council issued this month’s Economic and Revenue Update, reporting collection experience for the August 11 to September 10 period. This is the last key piece of information going into the next update to the state’s general fund revenue forecast. State forecasters believe that the national economy has hit bottom, […]
September 10 , 2009 - Kriss Sjoblom
Initiative 1033
The Research Council’s analysis of Initiative 1033, which will be on the statewide ballot in November, has been posted here. The initiative would establish limits on the annual growth in revenue deposited in state, county and city general funds. Revenues above the limit would be rebated through property tax reductions.
September 02 , 2009 - Kriss Sjoblom
Another Chart on Saving
The previous post discussed the recent upturn in the personal saving rate and the prospects that it will head even higher as the economy emerges from recession. In light of the recent increase in the saving rate, the following chart, which plots personal consumption expenditures as a share of gross domestic product, may seem anomalous. […]