Speaking to the Revenue Forecast Council on Thursday at noon, state chief economist Dr. Arun Raha delivered the bad news that projected state revenues are down nearly $700 million over the next two years. This widens the state’s budget shortfall to $5.1 billion.
Legislative budget writers had been expecting anywhere from a $500 million to $2 billion drop in revenues, so the news could have been worse. Last December, when Gov. Chris Gregoire announced her budget proposals, the shortfall was projected at $4.6 billion.
Read the full update.
Updates on the Legislature and state government from the Washington State School Directors' Association.
