Monday, November 22, 2021

Report: Washington State Economy Beats Projections

In January the 2022 Washington legislative session will convene to write and pass a supplemental budget. That task will be easier with the good news that there has been a steady uptick in state revenues throughout 2021.

Last week the State of Washington Economic and Revenue Forecast Council projected revenue collections for the 2021-2023 budget cycle are nearly $900 million above the original forecast, and projections for the next two-year cycle (2023-2025) jumped by more than $965 million.

Friday's meeting was the final forecast before Governor Inslee releases his draft budget proposal before January 10th when the session begins. Budget leaders in both the Washington State House and Senate will release their own proposals. 

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