State Democrats’ tax-and-spend spree finally hits a $500 million shortfall — is anyone surprised?
Democrats’ Tax-and-Spend Circus: Will the Bill Come Due?
For years, state Democrats have been on a tax-and-spending spree. They’ve passed a plethora of new taxes and hidden fee hikes to pay for their increasingly massive budget. And, predictably, it’s now all catching up – and working families may end up paying the price.
The latest state revenue forecasts indicate a significant budget shortfall, with collections expected to fall a whopping near-$500 million below projections. The reasons behind the shortfall? Lower than anticipated capital gains income tax revenue and decreased consumer spending. In total, our state’s economy is now projected to generate $66.5 billion for the budget cycle ending June 30, 2025, which is $477 million less than the February forecast used by Inslee and Democrats for their newest spending plans.
David Schumacher, Director of the Office of Financial Management, is not overly flustered by the short fall because the state has $2.4 billion in reserves. So, to solve the ongoing problem of out-of-control spending, the state would like to assure taxpayers that they have a short-term fix: dip into state emergency reserves. No, not cutting spending like so many struggling families have had to do across our state.
Of course, Democrats’ reliance on unrealistic revenue forecasts may hit another road bump this November as voters will have the opportunity to decide whether to eliminate the capital gains income tax altogether. The forecast currently assumes this measure will not pass – which may not be a wise bet. If the tax is overturned, it remains to be seen what Democrats will do next. But we’re guessing cutting spending is not on their radar. Read more at MyNorthwest.com.
Inslee’s Spending Maestro Jumps Ship: Retirees, Hold Your Wallets
Speaking of irresponsible budgeting, David Schumacher, who has been a driving force behind Jay Inslee’s record spending for the past 12 years, will leave his role this fall to become the government and public affairs director for the Washington State Investment Board, which manages $203 billion in state retirement funds. Retirees everywhere, beware. Schumacher plans to leave in September or October, just before Inslee proposes the 2025-27 budget in December, which (in theory) will serve as a template for the next administration. Here’s hoping the next administration throws that template out and starts afresh. Read more at the Washington State Standard.
Inslee's Eco-Irony: Killing Hawks for “Green” Energy
The track record of extreme green policies is full of instances of aggressive actions to reduce CO2 emissions, which ironically caused more harm to the environment than good. In California, a large solar energy project is destroying centuries-old Joshua trees, and, in our state, Jay Inslee is pushing for the Horse Heaven wind farm, which threatens the habitat of the endangered ferruginous hawk. Inslee’s obsession with building the wind farm – that he claims will enhance energy reliability – is such that he is more than willing to ignore community concerns and sacrifice an entire species of bird in the process.
Inslee’s dedication to the wind farm is not only fanatical, but also hypocritical. As the Washington Policy Center points out, Inslee’s stance on wind turbines contrasts with his approach to the Snake River dams, which he supports removing all in the name of “protecting” salmon, and to wolves, for which he seeks increased protections despite their growing populations. Inslee’s decisions prove that his extreme green policies are – in fact – based on personal priorities rather than objective science. And that is why – time after time – Inslee has failed to produce results and, worse, he’s burdened communities across our state with higher day-to-day costs. Read more at the Washington Policy Center.
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