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The driver behind Washington state’s budget shortfall

Summary by The Center Square
(The Center Square) – Earlier this month, state officials reported that the operating budget faces a $10-12 billion deficit over the next four years. Unlike during the Great Recession, the budget deficit isn’t due to a decline in revenue, as many of the state’s tax collections are at record levels while other new taxes have been imposed. Although the state Economic and Revenue Forecast Council recently lowered expected revenue for the current an…
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