In a new policy brief, we look at Washington's Steady Move to an Economic Nexus Standard for Taxes.
The state Economic and Revenue Forecast Council (ERFC) held its quarterly meeting today. The forecast of general fund–state (GF–S) revenue for the current biennium (2015–17) increased by $247.4 million to $38,227.1 million. The forecast of general fund-state revenue for the upcoming biennium (2017–19) increased by $303.0 million to $40,816.7 million, and the forecast of general fund-state revenue for the subsequent 2019–21 biennium increased by $186.0 million to $43,841.6 million. From 2015–17 to 2017–19 GF–S revenue growth equals 6.8 percent; from 2017–2019 to 2019–21, 7.4 percent.
Washington isn't the only state grappling with K-12 education funding issues. On March 2, the Kansas state Supreme Court ruled that the State of Kansas was violating the state constitution by not adequately funding public schools. Sound familiar? The Kansas City Star reports:
We're pleased to welcome state Rep. Brian Blake (D-Aberdeen), who took time out of his busy schedule during the legislative session in Olympia to join our podcast. Rep. Blake represents the 19th Legislative District on Washington's southwest coast, a district whose counties have traditionally voted Democratic in presidential elections but last year largely went for Donald Trump.
Currently school districts are allowed to levy maintenance and operation (M&O) levies of up to 28 percent of their state and federal revenues. That maximum is scheduled to revert to 24 percent in 2018. This is the levy cliff.
Specialty crops are an important part of Washington’s agricultural economy.
In this episode we offer a brief overview of the four-year balanced budget requirement passed by the Legislature and signed by the governor in 2012.
To read our Policy Brief on the requirement (from May 2012), click here.
To read our blog post (from April 2016) defending the four-year balanced budget requirement, click here.
The state released its fiscal note of SSB 5607 (the Senate-passed education funding bill) on Friday. It shows a substantial gap between the resources needed to fund the Senate and House plans.
Earlier this week the Seattle City Council approved its 2017 work program (via Seattle City Council Insight). Although details are scant, the program provides some idea of the issues councilmembers want to work on this year. Much of the program is carried over from last year, but there are several new items of interest.
The biggest job for the Washington state Legislature this year is public school funding for grades K through 12. Right now there are four major plans before lawmakers, all responding to the state Supreme Court's McCleary ruling, which found that the state is not fully funding basic education. We discuss all four plans in this episode.
Read our Policy Brief offering a side-by-side comparison of the four plans here.