Despite record tax hikes, Washington may face a deficit and could dip into reserves
Washington state faces a potential budget shortfall by the end of the 2025–27 biennium, despite record-high tax revenues and the largest tax increase in state history. According to the latest forecast from the state’s Economic and Revenue Forecast Council, spending may soon outpace income, prompting discussions about possible course corrections. Options on the table include cutting government spending, raising taxes again, or rebalancing existing programs. Lawmakers will likely revisit the issue when the Legislature reconvenes in January. What path should they prioritize? Cast your vote in this week’s poll.
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WA may have to dip into emergency reserves, despite historic tax increases
Despite record revenue and the largest tax hike in state history, Washington may face a budget shortfall by 2027 and could need to tap emergency reserves, according to th...
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I would love to hear the rationale behind the misguided soul who thinks more tax increases are a good idea. Clearly not anyone who owns a home or operates a business.