State Budget
Washington State faces budget challenges that threaten our ability to
maintain public priorities like educating our children, ensuring
communities are safe, providing health care for the uninsured, and
protecting the environment. These problems are not new, nor will they
go away without addressing the fundamental flaws in our revenue system.
Especially during this time of historic economic crisis, a balanced
approach to the budget deficit that includes reduced spending and
revenue increases is crucial to setting the stage for economic recovery
in the state.
Related research:
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Borrowing to Balance the Budget Can Make Sense, But Not by Itself
- As policymakers in Olympia look for ways to fill a $1 billion gap between the revenue the state is taking in and how much it needs to fund services that residents rely on, one alternative under consideration is “securitized” borrowing. Because such a plan would require a long-term commitment of future revenues lawmakers should also look to enact short- and long-term revenue reforms at the same time...
