State revenue projection for 2021–23 increased by $1.46 billion
Communications - Ralph Thomas
OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2021–23 state budget have increased by a net of nearly $1.46 billion, according to estimates released today by the Washington State Economic and Revenue Forecast Council.
“Continued strong revenue collections and high inflation have again resulted in increases in the revenue forecast,” said Steve Lerch, executive director of the Economic and Revenue Forecast Council.
Total Near General Fund revenues are now projected at nearly $63.2 billion for the current two-year state budget cycle, which began July 1, 2021.
The council also increased the net Near General Fund forecast for the next biennium (2023–25) by nearly $632 million. The council projects Near General Fund revenues will total nearly $66 billion for the next biennium, which begins July 1, 2023.
The next state revenue forecast is Sept. 23.