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Economic Revenue Forecast Council Increases Projected Revenue Forecast

capital dome in the fall

Washington’s Economic Revenue Forecast Council Increases Projected Revenue Forecast 

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. Since then, Washington has eliminated its $6 billion budget gap, and this summer Moody’s Investors Service issued the highest possible rating of Aaa in their most recent rating of the state. Today, the state’s Economic Revenue Forecast Council, which Treasurer Pellicciotti serves on, projected an increase to the revenue forecast by $927 million for the current 2021-23 biennium and an increase to the 2023-25 biennium forecast by $931 million.

“Washington state’s continued economic recovery since the start of the year is reflected in today’s latest revenue projection. I am proud to report that the financial standing of our state is strong.”

–  State Treasurer Mike Pellicciotti