The state’s Caseload Forecast Council issued a new report today indicating demand for some state services is falling short of expectations, which could reduce the state’s budget shortfall by some $200 million.
The Seattle Times has the story here.
That’s the first sign of good budget news in months. Even as economic indicators have pointed upward, the Legislature’s anticipated shortfall has held steady.
Lawmakers will get the final piece of information they need to rewrite the state’s two-year budget on Thursday when the state’s Economic and Revenue Forecast Council issues its quarterly projection of state tax collections. Tax collections for the first two months of the quarter have come in as expected since the last forecast, suggesting a major shift is not in order.