OLYMPIA, Wash. – Washington state’s revenue projection through mid-2023 is back to where it was in pre-pandemic levels.
The Economic and Revenue Forecast Council projects that revenue collections for the 2021-2023 budget cycle will be nearly $1.8 billion above what it predicted in March.
The council expects the state to have a $3 billion dollar surplus at the end of the current budget cycle.
It’s a complete turnaround since last June, when numbers warned of a nearly $9 billion shortfall.
The conservative Washington Policy Center says it’s a reason to consider rebates for state tax payers.