Fact One: The 2017-19 Washington state operating budget is 14 percent larger than the 2015-2017 budget.
Fact Two: State revenue for the 2017-19 biennium increased by $647 million over what was expected when the budget passed.
“(T)he total General Fund State forecast increase for the current biennium is $647 million.”
“Forecasted revenue for the 2017-19 biennium is now $44.213 billion, 15.4 percent more than that of the 2015-17 biennium.”
Source: Economic & Revenue Forecast Council, Economic & Revenue Review: February 15, 2018 Pg. 6
Fact Three: Democrats in the House are seeking an additional $1.8 billion tax increase from a capital gains income Tax (plus $518 million targeted tax reductions)
- “House Democrats’ budget plan included capital gains tax” Associated Press, Feb. 21, 2018
- House Bill 2967
- Fiscal Note for SHB 2967
Fact Four: Democrats in the Senate are seeking another $638 million tax increase from a carbon tax
- “Washington carbon tax bill clears key fiscal committee” Associated Press, Feb. 23, 2017
- Senate Bill 6203
- Fiscal Note for SSB 6203