State Treasurer Mike Pellicciotti and his office’s debt management team are finalizing preparations for an important transaction this week that will provide necessary financing for two dozen local and state capital projects and equipment purchases.

Washington state could keep a half billion dollars that will otherwise go to Wall Street in interest costs

In January, Washington State Treasurer Mike Pellicciotti joined 16 other state treasurers around the country to call on congress to pass the American Rescue Plan that contributed $7 billion to the State of Washington and local government and billions more into the pockets of Washington working families to stimulate our state economy.

Parents’ ability to pay for their kids’ future educational costs just got a bit easier. Due in part to successful state investments this past year, State Treasurer Mike Pellicciotti successfully led an effort today to lower the price of GET units

Washington State Treasurer Mike Pellicciotti approved the sale of three series of bonds today, delivering over $950 million in proceeds, which will be used to finance major infrastructure and transportation projects throughout the state.

After the State Finance Committee met Wednesday to authorize the issuance of new bonds, Committee Chair and State Treasurer Mike Pellicciotti received confirmation that Washington has maintained its strong credit ratings as it prepares to sell approximately $600 million of Various Purpose General Obligation Bonds, $93 million of General Obligation Bonds, and $40 million of Motor Vehicle Fuel Tax GO bonds later this month.

At this week’s special WA529 Committee meeting, Washington State Treasurer Mike Pellicciotti supported lowering the 2020-2021 Washington State GET unit price from $133 to $122. 

A solid credit rating along with strong investor demand allowed the State Treasurer’s Office to finance several local and state government projects at low interest rates today.

It is a priority for State Treasurer Mike Pellicciotti that Washington remain on track to fully fund our state pension obligations. Today the Governor signed the legislature’s budget that appropriates $800 million in state funds to reduce the amount of unfunded actuarial accrued liability in the Teachers’ Retirement System plan 1 fund on June 30, 2023.

Relying on low interest rates and Washington’s strong credit rating, today State Treasurer Mike Pellicciotti approved the refinancing of state debt to save Washingtonians $112 million in future debt costs, the highest amount of savings on a percentage basis from a refinancing by the Treasurer’s Office in at least 35 years, when records were first kept.