Washington lawmakers are projected to have $120 million more revenue than previously anticipated. The Economic and Revenue Forecast Council said Tuesday that an improving housing market is helping draw in extra cash. The council now anticipates that state government will raise about $32.66 billion in the next two-year budget cycle. That increase would give lawmakers more money to work with as they seek an agreement on how to balance the budget.
Forecasters cautioned that there remains a lot of uncertainty due to ongoing concerns about federal fiscal policy along with the economies of Europe and China. Budget negotiators have been struggling for months to find common ground on how to balance the budget.
House leaders have been pushing for new revenue while the Senate has been seeking policy changes.
June 18, 2013