Special session near-certain after $1.4B revenue loss
Today’s bad revenue report showing a $1.4 billion drop in state revenues is almost sure to bring lawmakers back to town well before their scheduled 60-day session begins Jan. 10 next year.
The question is when to do it and when does the state’s roughly $163 million in reserves run out. Gov. Chris Gregoire says she can’t make across the board cuts, which state law requires when finances run into the red, so she’ll need to call in lawmakers to authorize cuts in other places – presumably before the Nov. 17 revenue forecast.