State tax collections surge again in latest revenue forecast
OLYMPIA — A state revenue forecast released Wednesday gives Democratic budget writers in the House and Senate more money to spend than anticipated.
A lot more.
Washington’s economy, undeterred by the pandemic or inflation, is expected to generate $1.45 billion more in the current budget than state economist Steve Lerch predicted in his last forecast, in November.
And when that amount is added to Lerch’s projections from the summer, fall and winter, here’s what you get: $61.7 billion in tax collections for the 2021-23 state budget. That’s $5 billion more than when lawmakers adopted the two-year spending plan last April.
That doesn’t include $7.5 billion in reserves. Or $1.3 billion in federal COVID-19 relief left to distribute.
https://www.heraldnet.com/news/state-tax-collections-surge-again-in-latest-revenue-forecast/
