Revenue Projections for Washington Higher Than Expected
OLYMPIA, Wash. (AP) — Lawmakers received a revenue forecast that shows they have a little more money to work with as the Senate and House prepare to release their budget proposals in the coming weeks.
The latest numbers released at Thursday's meeting of the state Economic and Revenue Forecast Council shows found that the state's revenue collections through the middle of 2019 are expected to increase by about $571 million — with $313 million more than originally forecast for the upcoming 2017-2019 budget and $258 million more for the current two-year budget through the end of June. The projected overall state budget for 2017-19 is expected to be $41.6 billion.
The Legislature is just past the halfway point of its scheduled 105-day regular session. Senate Republicans are set to release their budget proposal next week, while House Democrats are expected to release their plan the following week.