Are you ready for a budget changing revenue forecast? Tune in at 10 a.m. to see if the economic recovery is forecast to continue and what that means for the state's budget deficit. tvw.org/watch/?eventID
Conversation
For those suffering (like me) the need to constantly refresh your browser for budget details - the revenue forecast details will be live here shortly after 10 a.m. erfc.wa.gov/sites/default/
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"The September GF-S revenue forecast has been increased by $2.1 billion in the current biennium and $2.2 billion in the next. The forecast of GF-S revenue for the 2023-25 biennium has increased by $2.5 billion." #waleg
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"This still leaves the GF-S forecast $2.4 billion lower than the February 2020 forecast for the current biennium, $2.1 billion for the next biennium and $2.0 billion for the 2023-25 biennium."
More manageable but still should trigger requirement for Gov or #waleg to act now.
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"Forecasted Near GF-S revenue for the 2019-21 biennium is now $50.022
billion, 8.6% higher than 2017-19 biennial revenue, and forecasted Near GF-S revenue for the 2021-23 biennium is $53.737 billion, an increase of 7.4%
over expected 2019-21 biennial revenue." #waleg
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This shows that even with the COVID shutdown impacts, overall revenue is projected to grow from the last biennium.
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Big wild card in today's revenue forecast: "The forecast
makes no assumption concerning a possible consolidation of 787 production in South Carolina." #waleg
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