Rep. Terry Nealey statement on March 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 $247 million for the 2015-17 budget cycle and by $303 million for the 2017-19 budget cycle.
Rep. Terry Nealey, R-Dayton, serves as the House Republican representative on the council, is the ranking member of the House Finance Committee, and a member of the House Appropriations Committee. He issued the following statement on today’s state revenue forecast:
“These new numbers are highly encouraging and will add to some previous revenue increases we’ve seen during the past year. Hopefully, this additional revenue will help to close the gap in the budgeting process, especially for K-12 education funding, and silence the misguided push for massive tax increases. I think it also has the potential to bring both parties closer together much sooner to pass a compromise bipartisan state operating budget by the end of the 105-day regular session.
“It’s important to remember that while Washington’s economy is generally doing well, especially in the greater Puget Sound region, there are still those in the rural areas of the eastern side of the state who are struggling. So while we can celebrate this additional revenue from a booming economy in Western Washington, we still need to remain mindful of the challenges others in our state face and do what we can to stimulate those economies with the ability to grow new jobs — not stifle them with tax increases.”
The council voted unanimously to accept the new revenue forecast, which will provide the benchmark upon which state operating budget proposals can be constructed.
The regular session of the 2017 Legislature is scheduled to end April 23.
###Washington State House Republican Communications