Rep. Terry Nealey on November 2014 revenue forecast: ‘Good news for state budget, but working families are still struggling with their budgets’
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Rep. Terry Nealey on November 2014 revenue forecast:
'Good news for state budget, but working families are still struggling with their budgets'
The Washington State Economic and Revenue Forecast Council today released its quarterly revenue forecast for the state. According to Chief Economist Steve Lerch, the General Fund-State net change is an increase of $107.9 million for the 2013-15 two-year budget cycle compared to the previous forecast in September.
The council also increased its forecast for the 2015-17 biennium by $241 .3 million.
Rep. Terry Nealey, R-Dayton, serves as the House Republican representative on the council and ranking member of the House Finance Committee. He released the following statement:
“It's encouraging that this latest forecast shows that our state's economy is steadily improving and that we are bringing in more revenue. While it's good news for our state budget, we also need to remember that working families are still struggling with their budgets. Many aren't seeing increases in their paychecks. We need to be very careful not to increase the tax load on them. Our focus during the coming 2015 legislative session needs to be on helping working families and employers around the state and on ways to further stimulate the state's economy and job growth.”
This is the final revenue forecast before the Legislature convenes the 2015 session on Jan. 12.
