How will the revenue and caseload forecasts affect the supplemental budget?

As Kriss wrote yesterday, a new revenue forecast has been approved. This forecast will inform the 2016 supplemental budget. On a near general fund-state plus opportunity pathways (NGFS+) basis, estimated revenues for the current biennium are $37.837 billion -- a decrease of $78.2 million from the Nov. 2015 forecast (see page 28 here).

How new luxury buildings impact affordable housing

Crosscut has an interesting story about new high-rises in Seattle.

Consider: there are currently 13 high-rise apartment or condo buildings of at least 24 stories in development or planning in the downtown area. The average is 39 stories. Another 24 high-rises are in the proposal pipeline, according to city and industry reports.

Revenue forecast reduced

The Economic and Revenue Forecast Council met this morning in Olympia to issue its quarterly update to the state revenue forecast. For the current 2015–17 biennium, the forecast of general fund state revenues was reduced by $67 million to $37.137 billion, while for the 2017–19 biennium the forecast was reduced by $442 million to $40.125 billion.

New report: By Mandating A Specific Compensation Mix, Labor Policies Take Flexibility Out of the Equation

In a new report, we take a look at various labor policy issues that are being discussed in the state this year. Briefly:

January 11 – February 10 state revenue collections were $23.7 million greater than forecast

This afternoon the Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update. Here is the key news on revenue:

McCleary bill, with changes, clears Senate committee hurdle

In the continuing saga of legislation to address the state Supreme Court's McCleary​ ruling on K-12 basic education funding, the Senate Ways & Means Committee on Tuesday took action, approving its version - but not without changes, or controversy.

Preliminary results from UW's minimum wage study are inconclusive

The University of Washington is studying the impacts of Seattle's minimum wage ordinance. They recently released a paper that describes the methodology for their study and provides preliminary estimates of the ordinance's impact on prices.

The price information is inconclusive, to say the least. There are many caveats:

InFocus podcast: Preliminary state economic forecast, Supreme Court ruling on Spokane initiative

Today we cover the state's February preliminary economic forecast, as well as an interesting state Supreme Court ruling on a "community bill of rights" initiative in Spokane.

President Obama's budget would subsidize wages for teens

Today President Obama proposed a budget for 2017. It includes $5.5 billion to "open doors to a first job." Of that, $3.5 billion would be used

Common Ground podcast: State Reps. Riccelli & Zeiger on bipartisanship

Two members of the bipartisan under-40 caucus in the state Legislature, Reps. Marcus Riccelli (D-Spokane) and Hans Zeiger (R-Puyallup), join us to talk about cooperation and getting along across party lines in Olympia.

 Reps. Riccelli and Zeiger

 

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