Washington lawmakers are getting an update on the state’s finances in the latest quarterly report from the Economic and Revenue Forecast Council.
Thursday’s report will give an idea of how much tax money the state can expect in its next fiscal year, which begins in July. The recession has already hammered state revenue, and lawmakers had to bridge a roughly $9 billion budget deficit earlier this year.
A further drop in expected tax collections could cut into the state’s budget reserves, possibly increasing the chances of a special legislative session to make changes.
