US EditionWA governor calls for tapping reserve fund and climate law cash to fill budget hole
Governor Ferguson proposes a $79 billion budget to address a $2.3 billion shortfall using $1 billion from the rainy day fund and nearly $600 million from climate revenues.
- On Tuesday, Dec. 23, Gov. Bob Ferguson proposed a $79 billion supplemental operating budget that avoids broad tax hikes while tapping reserves and redirecting Climate Commitment Act revenues to close a $2.3 billion gap.
- Driven by falling receipts and higher costs, inflation, lower tax receipts and federal cuts eroded finances, prompting adjustments to the two-year, $78 billion 2025-27 budget through June 30, 2027.
- The plan cuts about $9000 million across agencies, trims university budgets by 3%, removes 1,816 Transition to Kindergarten slots, and funds pay raises for 5,300 workers.
- Republicans and critics called the proposal gimmicky and questioned its Christmas timing, while Climate Solutions and clean-energy groups opposed diverting CCA auction proceeds from pollution reduction.
- Although he backs a millionaire's tax, Ferguson described the plan as a roadmap for the Jan. 12 legislative session, noting revenue won't start until 2029.
15 Articles
15 Articles
WA governor calls for tapping reserve fund and climate law cash to fill budget hole
The Washington state Capitol on Nov. 11, 2024. (Photo by Bill Lucia/Washington State Standard)Washington Gov. Bob Ferguson made a splash Tuesday with his full-throated endorsement of taxing the earnings of millionaires. The surprise declaration from the first-term Democratic governor nearly drowned out his newly released plan to erase a multibillion-dollar shortfall in the current state budget. He made “super clear” that if Washington taxes mill…
Guest Rant: Governor Ferguson’s Proposed Budget Will Hurt Everyday Washingtonians
The Well Washington Fund Could Help by Shaun Scott When combined with the impact of President Trump’s “Big Beautiful Bill” HR 1, the no-revenue budget that Governor Bob Ferguson proposed today will hurt everyday people in Washington State. But austerity isn’t inevitable. On the steps of the Washington State Legislative Building earlier this month, I announced my prime sponsorship of House Bill 2100. If passed into law during the next year’s legi…
Ferguson’s proposed 2026 supplemental budget for Washington announced
OLYMPIA – Washington Gov. Bob Ferguson proposed Tuesday at $79 billion supplemental budget to close a $1.9 billion deficit by eliminating corporate tax breaks rather than raising taxes. The governor’s office said the plan preserves access for reproductive health care and maintains core services, like K-12 education, while making important investments in affordability, including maintaining the Working Families Tax Credit. Sen. Nikki Torres (R-Pa…
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