Blog

Official state revenue forecast comes out at noon today. View with caution.

In my column today I suggest lawmakers take a cautious view of the numbers. The state, national and global economies continue to face substantial risk. A balanced budget is, of course, a priority. But With much risk beyond their control, lawmakers should be cautious in their spending and prudent in maintaining adequate budget reserves. They […]

There's nothing like a "temporary tax"… the New York edition

Or so it would seem. Literally. As the governor and some legislators in Olympia consider extending temporary tax increases on business and beer, their counterparts in New York tread the same turf. Gov. Andrew M. Cuomo and legislative leaders are finalizing a surprise deal to extend a high-tax bracket for the state’s top incomes. The […]

Handicapping the economy – mixed reviews ahead of the 3/20 state revenue forecast

Kriss has written (here and here) that the next state revenue forecast will likely come in below the November numbers, adding to the budget woes that will dominate the closing weeks of the legislative session. As has been the case through much of this frustrating semi-recovery, expectations continue to be mixed. Economist Mark Perry has […]

Repealing tax preferences is not a cure-all

Andrew Garber reports that Governor Inslee will propose “closing some tax loopholes” to fund education. (He has yet to announce which “loopholes” he’s talking about.) On TVW this morning, the governor said, I was very clear that the way we should move forward to fund our schools and improve our education is rather than from […]

With supermajority for taxes out, what's next?

I take a stab at answering that in my column today. The crux: After 20 years, voters understand how the supermajority requirement works. If they want it in the constitution, they first must elect a Legislature that will place it on the ballot. They should begin by making it an issue in the 2014 campaign. […]

Elway poll shows limited appetite for new transportation funding – the search continues

A new Elway Poll underscores the challenge facing legislators and the broad coalition working to fund essential transportation improvements in the state. The Seattle Times reports: A Stuart Elway poll of 412 registered voters found that 72 percent oppose a higher gas tax and 62 percent oppose an increase in the car tab. The poll has a margin […]

Taxing Tech: Seattle Times op-ed emphasizes benefits of tax incentives

Legislators wanting to exercise their new taxing authority by boosting tech taxes should first read an important commentary in today’s Seattle Times by Susan Sigl and Bryan Mistele. Sigl, head of the Washington Technology Industry Association, and Mistele, founder and CEO of INRIX, remind policymakers of the economic importance of the industry to the state […]

Reactions to state supreme court rejection of supermajority requirement

This morning’s supreme court ruling has prompted a host of first reactions. Gov. Jay Inslee likes the decision. The state Supreme Court did the right thing today in ruling that a supermajority requirement for ordinary legislation would alter our system of government. The supermajority requirement gave a legislative minority the power to squelch ideas even […]

State Supreme Court strikes down supermajority requirement for tax increases

On a 6-3 vote, the state Supreme Court ruled that the supermajority requirement for tax increases imposed by Initiative 1053 is unconsititional. Here’s the opinion and dissents. The decision has been highly anticipated. I expected they’d scrap it years ago, writing in a December 2007 column: …most members of the court, possibly all except Justices […]

Seattle life sciences cluster ranks tenth in the nation

Seattle Times business columnist Jon Talton reports on the continued strength of Seattle’s bio sciences cluster this morning. Well, I put that a bit more strongly than he did. Seattle was fortunate to have an established cluster, which was ranked No.  5 nationally in an influential 2004 report by the Milken Institute. How are we doing now? […]