Schmudget Blog
Revenue Package Not Built to Last Over the Long Term

Revenue Package Not Built to Last Over the Long Term

Posted by Kelli Smith, 2017-07-12 15:00:00 | (0) Comments
By Kelli Smith, policy analyst, and Andy Nicholas, associate director of fiscal policy
 
In a legislative session where the central question was how to come up with the billions of additional dollars required to fund schools now and in the future, lawmakers settled for a short-term revenue solution that will not sustain our schools and communities in the long run. While it’s good that there’s at least some new revenue to support our schools, much more needs to be done to fund our schools and strengthen our state economy well into the future. Lawmakers should have included more equitable and sustainable property tax reforms in the revenue package, and they should have removed more unnecessary and wasteful tax breaks.

 

Governor’s Veto of Unnecessary, Short-Sighted Tax Giveaway Is the Right Move for Washington’s Future

Governor’s Veto of Unnecessary, Short-Sighted Tax Giveaway Is the Right Move for Washington’s Future

Posted by Melinda Young-Flynn, 2017-07-07 17:10:00 | (0) Comments
Statement by Executive Director Misha Werschkul
 
The Washington State Budget & Policy Center applauds Governor Jay Inslee for vetoing part 2 of Senate Bill 5977, which would have reduced the business and occupation (B&O) tax rate applied to manufacturers that do business in Washington state. As we previously noted, this tax giveaway that was snuck into the budget at the eleventh hour without any transparency or accountability measures would have been a bad deal for our state.

 

Three Reasons Why a New Tax Break for Manufacturers Is Bad for Washington State

Three Reasons Why a New Tax Break for Manufacturers Is Bad for Washington State

Posted by Andy Nicholas, 2017-07-03 18:50:00 | (0) Comments

In the final hours of intense, behind-the-scenes negotiations over the recently enacted 2017-19 state budget, lawmakers in Washington state snuck in a major new tax break for manufacturers. This new tax break, which is one of 13 new or extended tax breaks included in Senate Bill 5977, would reduce the business and occupation (B&O) tax rate applied to Washington state-based manufacturers from the current rate of 0.484 percent to 0.2904 percent over the next four years. 

Last-Minute, Makeshift Budget Misses Opportunity to Fix Upside-Down Tax Code

Last-Minute, Makeshift Budget Misses Opportunity to Fix Upside-Down Tax Code

Posted by Kelli Smith, 2017-06-30 13:05:00 | (0) Comments
Statement by Executive Director Misha Werschkul:
 
Legislative leaders have agreed to a spending plan to fund state services for the next two years – and as such, they may avoid a state shutdown – but they have left a lot of important work undone. Notably, lawmakers have passed up an historic opportunity to address our state’s broken tax code, and instead have relied too much on unsustainable fund transfers and budget gimmicks that will threaten the economic strength of the state in the future. The budget deal includes some investments in critical programs, but it falls short of meaningfully strengthening many of the state’s most important long-term investments.
 

Instead of creating a budget that enacts much-needed revenue reform, lawmakers have cobbled together a budget that makes progress toward fulfilling a mandate from the state Supreme Court to strengthen our K-12 schools. But the final budget agreement does this by relying too heavily on irresponsible accounting tricks, like drawing down the state rainy day fund and shifting funds between accounts, that will leave the state on shaky ground in future years. 

State Revenue Forecast Doesn’t Change the Facts: Washington State Needs Equitable New Revenue

State Revenue Forecast Doesn’t Change the Facts: Washington State Needs Equitable New Revenue

Posted by Kelli Smith, 2017-06-20 13:45:00 | (0) Comments
Statement from the Washington State Budget & Policy Center:
 
The updated state revenue forecast, which projects a small increase in the amount of tax resources available to fund schools and other priorities in the coming years, should signal to lawmakers that it’s time to get to work on cleaning up the state’s flawed tax code. Failing to do so would make it impossible for lawmakers to amply fund schools without forcing harmful cuts to health care, higher education, and other investments that promote a strong state economy and thriving communities.
 

Lawmakers in Olympia have until June 30 – just 10 more days – to finalize the state budget before state agencies are forced to begin shutdown procedures. A state government shutdown would put thousands of Washingtonians at risk of losing access to child care, public health resources, and job supports, and it could cause interruptions to business, environmental protection, and utility services. That’s not even to mention the loss of income for state workers during the shutdown.

HIGHLIGHTS

Our Policy Priorities

Washington state should be a place where all our residents have strong communities, great schools, and the chance for a bright future. Our 2017-2019 Legislative Agenda outlines the priorities we are working to advance to build a better Washington.

Budget Beat!

Check out the Budget Beat webinars we hosted throughout the 2017 legislative session, including our most recent Budget Beat about federal budget proposals, featuring Louisa Warren of the Center on Budget and Policy Priorities, on our YouTube channel

Testimonies in Olympia

To advance our legislative priorities, the Budget & Policy Center team was in the state capitol throughout session testifying on a wide range of bills. Watch our testimonies on TVW:
Misha TVW