Other pages about the topic: Revenue

State revenue forecast for 2017-19 budget grows by $288 million

OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2017–19 state budget have increased by about $288 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council.

“The national economic trends we’ve identified in recent forecasts are holding relatively steady, while the state economy is slightly stronger than expected in June” said Steve Lerch, forecast council executive director. “This quarter’s update reflects these modest changes.”

State & local government revenue sources

Washington state & local government revenue sources, Fiscal Year 2014

($ millions)

State & local taxes per capita

Washington state & local taxes per capita

Inflation-Adjusted to 2014 Dollars

Fiscal Year

Taxes Per Capita

(Inflation-Adjusted to 2014 Dollars)

Revenue & expenditures trends

State economic, demographic, and social trends are related to one another and, in turn, affect government policies on spending and taxation. A strong economy, for example, attracts more people to the state, which in turn boosts state tax collections. At the same time, however, increases in population also put additional pressure on such areas of state responsibility as public schools, prisons, and social services. Social developments, such as crime rates and the incidence of teenage pregnancies, also contribute to demands on public resources.

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