New revenue forecast brings more welcome news 

 

The Economic and Revenue Forecast Council released more good news today for Washington State. The latest forecast projects an additional $213 million for the 2007-09 biennium. In addition, the final revenue receipts for the previous biennium were $69 million above projections.

 

Previous forecasts are now thought to be low primarily because the Washington economy has continued to outperform the national economy.

 

This news adds to the additional revenue projected in June's forecast.

Today's welcome news does not close the gap between revenue and the cost of continuing commitments over future biennia. Moreover, growing concerns over the need to further invest in early learning, children's health care, and other public priorities will not be allayed by today's news.

The new forecast is available at erfc.wa.gov.

 

Research Director Jeff Chapman can be reached at 206.262.0973*224.