You might think that when the economists in charge of predicting the state’s revenue future release news that tax money is coming in at a faster pace than expected – to the tune of $146 million in the current two–year budget and $241 million for the next budget cycle (2015-2017)—that politicians would be happy. Because that is the projection released yesterday by the Washington State Economic and Revenue Forecast Council.
But that’s not how it works for Washington’s Democrats, who have their usual talking points already in place (courtesy of liberal blog PubliCola) – “Revenues for the 2015-17 biennium are expected to increase $241 million, bringing total revenue to $36.6 billion; that’s more than the current 2013-15 $34 billion budget, but with inflation and an aging population, the new money isn’t even enough to sustain the state’s current financial obligations. “
That’s right, there’s more money coming in – 8%-plus revenue growth in the current and next budget cycle – but it’s never enough for Jay Inslee, Frank Chopp and the Democrat Party which has controlled Olympia budgets for the last 30 years. They need more to keep the promises they have made to their special interest campaign donors.
Can you say “higher taxes”?
The Democrats will talk about closing tax loopholes (are they going after the biggest one, the sales tax emption for food?), or maybe just taxing the rich, but the reality is that they will undoubtedly go after the middle class by proposing another college tuition hike (like Frank Chopp’s House did this year) and gas tax schemes.
Might be something to ask Democrats about on the campaign trail.