Yesterday the state agency that monitors the collection of taxes and fees by the state held their quarterly forecast meeting. Despite the gloomy predictions of many in Olympia, our state’s economy is continuing to recover.
- Over the next two years, state tax receipts are expected to grow at a rate of 6.6%
- Total revenue in the next two-year budget period is anticipated to be $32.5 billion
- That’s $2 billion more than in the current budget period and more than at any time in our state’s history
Despite the fact that the state expects to take in an additional $2 billion, some lawmakers are still pushing for new taxes. My question to them is ‘how much is enough?’ We have more money coming into the state than at any time in history, and people still want more? That doesn’t make sense to me, and I’ll continue to work towards a budget that does not rely on tax increases.