Orcutt issues statement on today’s new revenue forecast
CONTACT: John Handy, Communications Director | 360-786-5758
Orcutt issues statement on today’s new revenue forecast
The Washington State Economic and Revenue Forecast Council issued the latest revenue forecast for the 2011-13 biennium and the first forecast for the 2013-15 biennium. The General Fund-State net change is an increase of about $96 million, but only about $32 million of this amount is new revenue due to the economy. The rest of the increase is from unclaimed property revenue assumed in December and other one-time increases.
Rep. Ed Orcutt, R-Kalama, chair of the council and assistant ranking Republican on the House Ways and Means Committee, released the following statement:
“Our caseloads are trending down as we're seeing those who qualify move out of state services and onto federal programs. This relief, coupled with a slight uptick on the tax collections side, is good news in the short term and for budget writers here in Olympia who are trying to fill our state's projected budget shortfall. Hopefully, they may now think twice before trying to increase taxes on struggling families and employers around the state.
“However, our economy – and thus our revenue forecast – is treading water. It's better than sinking but we certainly don't need the Legislature creating any waves. Unfortunately, the talk of tax increases along with some of the bills we're seeing move through the legislative process have the capacity to cause more than just ripples.
“I still believe the Legislature has the ability and the responsibility to enact policies that will help stimulate the economy and job growth. There are several bills still on the table that would bring more stability and certainty to employers in our state – something they say they need in order to begin hiring again. But we're not seeing much action on these proposals. For the most part, they're being ignored or getting lost in the myriad of bills that we end up spending time on.
“At the end of the day, today's news is good in the short-term, but shouldn't make anybody feel great for the long-term vitality of our state's economy. More needs to be done. Those in leadership positions in this state need to do more to help get Washington working again.”
For more information, contact Brendon Wold, Senior Information Officer: (360) 786-7698
