The state’s Economic and Revenue Forecast Council approved a flat revenue forecast that leaves the state with an estimated shortfall of $1.2 billion to $1.3 billion for the next two year budget cycle. That’s before as much as $1 billion or more in investments for K-12 education are considered.
The forecast, found here, provides the Legislature with the last of the assumptions it’ll need to craft the state’s next two year budget.
Increased demand for state services added $300 million to the problem last week. This forecast mitigated that by some $40 million.
You can find coverage from the News Tribune here and the Spokesman-Review here. You can find the Seattle Times coverage here.