By Advocacy Committee, ptaadvocacydir@wastatepta.org
On March 18, the Washington State Economic and Revenue Forecast Council released the latest revenue forecast. The figures further worsened the state’s financial outlook, adding to an already projected operating budget shortfall of up to $15 billion over the next four years.
The latest forecast projects nearly $900 million less for the state’s operating budget than November estimates. Revenues for the rest of this budget cycle are up $54.4 million but still show an overall decline of $845 million through 2029.
The next two-year budget, starting July 1, is expected to drop by $479 million to just under $71 billion, while 2027-2029 revenue is projected to fall by $420 million to $76.4 billion. For additional details, view the 30-minute presentation on TVW here.
Lawmakers in Olympia will consider the budget forecast as they draft the budget, consider where to make cuts, and what to fund. What can PTA members do? We can continue to make sure our legislators know that there is overwhelming support for fully funding basic education and we need them to address critical education funding shortfalls in this legislative session! It is Washington’s paramount duty to amply fund basic education.