Statement from Rep. Terry Nealey on June 15 state revenue forecast
The Washington State Economic and Revenue Forecast Council released its state revenue forecast today. According to Chief Economist and Executive Director Steve Lerch, the General Fund-State (GF-S) revenue forecast has been increased by $294 million for the 2015-17 budget cycle and by $126 million for the 2017-19 budget cycle. GF-S revenues are expected to grow 11.2 percent between the 2013-15 and 2015-17
budget cycles and 7.5 percent between the 2015-17 and 2017-19 budget cycles.
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 on today's state revenue forecast:
“Today's revenue forecast is welcome news for budget writers as the Legislature looks ahead to a legislative session that will be focused on K-12 education funding. Next year promises to be challenging, but it is reassuring to know state revenue appears to be stable as we consider various solutions.
“We cannot forget that February's revenue forecast was down $442 million for the 2017-19 budget cycle. Certain sectors of our state economy have really picked up since then — including real estate, construction and auto sales. While this is good news, let's remember that many areas of our state continue to struggle economically — especially rural communities. Finding ways to improve our business climate and grow the economy statewide must also be a priority next legislative session. A stronger economy will ensure we can properly fund priorities of government — beginning with K-12 education.”
For more information about Rep. Nealey, visit: www.representativeterrynealey.com.
###Washington State House Republican Communications