Lawmakers on Tuesday hope to wrap up their work and go home after a year in which they pushed the state to the brink of shut down because they couldn’t agree on how much to spend – not cut — in the next budget.
The bill they passed Monday and sent to Gov. Jay Inslee for signing Tuesday will spend a lot more than the current budget.
It calls for expending $38.2 billion on state operations and public schools, which is $4.4 billion more than the current budget.
Of the $4.4 billion, lawmakers are counting on the economy to generate $3.2 billion through increased collections of existing taxes and fees. They also siphon a little from reserves and assume a burgeoning recreational marijuana industry will bring in some dough.
And befitting the compromise it’s proclaimed to be, it also relies on the use of so-called “gimmicks” opposed by House Democrats and taxes resisted by Republicans.
For example, the budget assumes $178 million in transfers from other government accounts into the general fund.
Among them is a shift of $73 million from the public works account in the Capital Budget. House Democrats often mentioned this as a budget gimmick pushed by Senate Republicans they disliked.
The budget also counts on raising roughly $200 million in new revenue. About two-thirds will arrive through higher taxes paid by businesses slated to lose a tax break or preferential tax rate. Republican senators insisted no additional taxes were needed to make ends meet then all 25 of them voted for them.
To read details on where the money comes from and how it will be spent, go here.
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