State revenue projection for 2021–23 increased by $927 million
Washington’s projected Near General Fund revenue collections for the 2021–23 state budget have increased by more than $927 million, according to estimates released today by the Washington State Economic and Revenue Forecast Council.
“Trends in collections are still improving though there are some uncertainties on the horizon,” said Steve Lerch, executive director of the Economic and Revenue Forecast Council.
Total Near General Fund revenues are now projected at $59.3 billion for the current two-year state budget cycle, which began July 1.
Meanwhile, the council increased the Near General Fund forecast for the next biennium (2023–25) by more than $931 million. The council projects Near General Fund revenues will total nearly $63.1 billion for the next biennium, which begins July 1, 2023.
The next state revenue forecast is in November.