State Legislature
December 1, 2021
November Revenue Forecast Shows “Stronger than Expected” Revenue Collections Despite Continued Challenges
Overview The Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on November 19. We noted in our previous blog post that the September revenue forecast showed continued economic growth in the face of rising COVID-19 cases and hospitalizations. In Washington state, the COVID-19 case rate is down from the recent peak in…
September 29, 2021
September Revenue Forecast Shows Overall Continued Economic Growth
Overview The Economic and Revenue Forecast Council (ERFC) released their September revenue forecast on September 24. The last revenue forecast, released in June, showed promising signs of a full economic recovery. At that time, the number of COVID-19 cases in Washington state was declining. However, as noted in our previous blog post, risks remained and…
June 24, 2021
June Revenue Forecast Shows Strong and Growing State Economy
Overview The June revenue forecast again builds on the promising economic recovery we have seen in recent months. As a reminder, the June 2020 Revenue Forecast, released by the Economic and Revenue Forecast Council (ERFC), forecasted a precipitous economic decline as a result of the full shutdown in spring and early summer. While the September Revenue Forecast…
March 17, 2021
March Revenue Forecast Shows Strong Economic Recovery
The COVID-19 pandemic drastically changed the economic outlook in Washington state. The June 2020 Revenue Forecast, released by the Economic and Revenue Forecast Council (ERFC), forecasted a precipitous economic decline as a result of the full shutdown in spring and early summer. While the September Revenue Forecast and the November Revenue Forecast demonstrated significant recovery from June…
March 12, 2021
Legislative Session Update
This week marks the halfway point of the 2021 “long” biennial legislative session. We are currently tracking 316 bills and looking ahead towards a busy remainder of session. Major policy topics this year have included diversity, equity, and inclusion; climate and sustainability; and health care. We have posted a full list of bills the University…
November 20, 2020
November Revenue Forecast Shows Continued, but Cautious, Growth
The COVID-19 pandemic has drastically changed the economic outlook in Washington state. The June Revenue Forecast, released by the Economic and Revenue Forecast Council (ERFC), forecasted a precipitous economic decline as a result of the full shutdown in spring and early summer. Fortunately, the September Revenue Forecast and the November Revenue Forecast, released Wednesday, have shown a…
September 24, 2020
September Revenue Forecast Shows Promising Recovery
The COVID-19 pandemic has drastically changed the economic outlook in Washington state. Fortunately, September Revenue Forecast, released yesterday by the Economic and Revenue Forecast Council (ERFC), details modest growth. This stands in stark contrast to the June Revenue Forecast, which forecasted a precipitous economic decline as a result of the full shutdown throughout spring and…
May 6, 2020
Economic and Revenue Forecast Council Releases April Budget Outlook
On Thursday, April 30, the Economic and Revenue Forecast Council met to review and approve the April 2020 budget outlook. The budget outlook used the February revenue forecast and contained no major changes to revenues or appropriations for the 2019-21 biennium. During their meeting, the Council acknowledged that there will likely be changes to the…
February 28, 2020
House and Senate Proposed 2020 Supplemental Operating and Capital Budgets
Earlier this week, leadership in the House and Senate released their 2020 supplemental state budget proposals, which include technical corrections and other changes to the enacted 2019-21 biennial budgets. An OPB brief outlining these proposals is available on the OPB Briefs page. We will update the brief in the event that proposals are amended, and…
February 20, 2020
February Revenue Forecast Shows Continued Growth
The Economic and Revenue Forecast Council (ERFC) released their February revenue forecast on February 19. The projected Near General Fund-State (GF-S) revenue forecast increased by $606 million for the 2019-21 biennium and by $536 million for the 2021-23 biennium. The report projects higher than forecasted revenue compared to the November revenue forecast. Here is a quick summary…
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