Washington revenue forecast falls again

Washington state’s projected revenues for the next two years are down slightly, said Arun Raha, the state’s chief economist and executive director of the economic and revenue forecast council.
He said economic growth is slower than expected and disruptions caused by the Japanese tsunami “continue to pose a threat to the state’s economy.”
Revenue collections through mid-June were $93 million more than expected, but only because of a successful tax amnesty program.
Overall state revenue for 2011-13 is expected be $31.7 billion, which is $183 million less than the March forecast.

Washington state’s projected revenues for the next two years are down slightly, said Arun Raha, the state’s chief economist and executive director of the economic and revenue forecast council.

He said economic growth is slower than expected and disruptions caused by the Japanese tsunami “continue to pose a threat to the state’s economy.”

Revenue collections through mid-June were $93 million more than expected, but only because of a successful tax amnesty program.

Overall state revenue for 2011-13 is expected be $31.7 billion, which is $183 million less than the March forecast.