A Stateline article notes that nationally this year the bulk of the ballot initiatives focus on fiscal, rather than social issues.  This is certainly the case in Washington, where we have initiatives affecting taxes and state debt, among others.  Yesterday we posted policy briefs on two of these:  Referendum 52 and Initiative 1053.

R-52 asks voters to approve $505 million of new state debt.  If approved, the bond issuance would be outside the constitutional debt limit.  Thus, it would not take up space within the limit, leaving room for additional future debt to fund other projects.

I-1053 would again require a two-thirds majority vote of the legislature for tax increases.  This is a voter favorite, having been approved three times before.  Some lawmakers are not so enamored of it—earlier this year a simple majority of the legislature suspended the law and increased taxes.

You could say that at the process level, R-52 and I-1053 represent opposing corners.  The referendum would result in more options to fund spending; the initiative would make one option more difficult to use.