State expects $1.4 billion less in tax revenue
The state budget is in a deep hole.
Again.
Washington state is projected to collect around $1.4 billion less in tax revenue than expected between now and the end of June 2013, the state's chief economist, Arun Raha, said Thursday.
This comes on top of a down forecast in June that wiped out most of the state's reserves — not long after the governor had signed a two-year, $32 billion budget.
Gov. Chris Gregoire, in an interview, said she expects the Legislature will have to go into special session toward the end of the year to adjust the budget. She wants to wait until after the next forecast in November, in case things get worse.