New Revenue Forecast Shows Need for Balanced Approach
Two things are clear after Thursday’s new revenue forecast showing the state will be about $385 million short of maintaining public priorities in the current budget and $5.7 billion short in the next biennium.
It is highly likely that the Governor will convene a special session of the legislature in the next few weeks – a session in which policymakers will be forced to make tough choices in order to keep the current state budget in balance amid the ongoing economic turmoil.
Second, now more than ever, it is imperative that lawmakers adopt a balanced approach that includes new revenues in dealing with the recession’s continued assault on workers and families in our state. It is important to remember the key public priorities have already been slashed by more than $4 billion in current budget cycle. On top of that, the Governor in September ordered an additional round of across-the-board budget cuts totaling $520 million in the current year.
As Gov. Gregoire rightly noted in her press release: “Further across the board cuts, which would add 4.6 percent to the 6.3 percent reductions I ordered last month, are not feasible…Quite frankly we can’t cut any deeper without ending significant programs. Extremely difficult choices must be made and given this sharp revenue decline, they must be made now.”
We will need a balanced approach in dealing with this crisis.
