Washington State continues to rake in taxpayer dollars at higher-than-expected levels. According to the latest numbers released by the Washington State Economic and Revenue Forecast Council, and Office of Financial Management, the state is now projected to generate an additional $308 million in revenue from current sources during the 2015-2017 budget cycle.
The council also projected higher than expected revenue collections in the 2017-2019 budget cycle, predicting an additional $127 million on top of the 2015-17 gain.
Despite the state’s projected revenue increases, Jay Inslee’s OFM Director David Schumacher claims that the state would still be about $3 billion short of meeting costs related to the state Supreme Court’s McCleary decision.
Of course, Democrats like Schumacher will never miss an opportunity to float an excuse to raise taxes. We can all expect Democrats to introduce another state income tax proposal during the next legislative session, as they continue to try to grow the size of government to satisfy their special interest campaign donors.
A state income tax is, after all, their party’s “guiding principle.”