State revenue projection for 2017–19 increased by $163 million
Revenue forecast for 2019–21 budget increased by $196 million
OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2017–19 state budget have increased by about $163 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council.
“Revenue collections are essentially the same as forecast and the economy is behaving as anticipated, so the latest revisions are relatively small,” said Steve Lerch, forecast council executive director.
Total Near General Fund revenues are now projected at nearly $45.8 billion for the current two-year budget cycle, which began July 1, 2017.
The council also increased the Near General Fund forecast for the next biennium (2019–21) by nearly $196 million. Total Near General Fund revenues are now projected at $50 billion for the next biennium, which begins July 1, 2019.
Gov. Jay Inslee is working with the state Office of Financial Management on his proposed 2019–21 budget, which will be released in December.