Western Legislative Review: Quarterly forecast projects $554M increase in state revenues for 2019-21
According to the Washington State Economic and Revenue Forecast Council, projected revenue collections for the state of Washington鈥檚 Near General Fund have increased slightly for the 2019-21 biennium. Today鈥檚 quarterly revenue forecast shows a $307 million increase for the current 2017-19 biennium and a $554 million increase for the upcoming 2019-21 biennium.
The forecast estimates a total of $50.6 billion in state revenues for the 2019-21 budget cycle, which begins July 1st. Despite the modest increase in projected revenues, state legislators still face significant challenges in developing the state鈥檚 2019-21 operating budget due to increased state funding obligations.
Proposals for the state鈥檚 2019-21 operating, capital and transportation budgets are expected to be released by the House and Senate in the coming weeks, and the 2019 legislative session is scheduled to end on April 28th.
Click to read more about today鈥檚 revenue forecast.