State budget writers received some positive news this week in the form of a modest increase of about $400 million over previous assumptions in the state’s revenue forecast.
From TVW’s Capitol Record:
The Economic and Revenue Forecast Council expects the state to collect $327 million more in the 2015-17 cycle than previously projected. It also projects an additional $79 million more in the current 2013-17 budget cycle.
UW’s Office of Planning & Budget has a blog post with additional highlights.
From OFM’s news release:
Today’s forecast was released a month ahead of schedule to help lawmakers reach agreement on its 2015–17 operating, capital and transportation budgets. Gov. Jay Inslee called lawmakers into special session last month after they were unable to reach final budget agreements during this year’s regular legislative session. The 30-day special session ends May 28.
Watch TVW’s coverage of the Economic & Revenue Update online here.