Washington state revenue collections down a bit in June; Don't worry, counsels economist Arun Raha
The July collections report was just released by state economist Arun Raha and the bottom line that most state budget writers and state budget beneficiaries look for is this – collections from existing state taxes was $22.3 million below what was expected in the quarterly forecast released just three weeks ago.
But Raha quickly adds that the lower collections are expected based on his current view of the immediate future – short-term slowing in the national and state economies followed by a firming up in the second half of 2011.