Austin Jenkins
/ NW News Network
Originally published on March 12, 2021 3:44 pm
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Washington’s 105-day legislative session has crossed the halfway point and a key deadline for policy (non-budget) bills to clear their chamber of origin has passed. Majority Democrats are moving swiftly to enact a pandemic-era agenda focused on issues like tax reform, police accountability, racial equity and global climate change. Minority Republicans, meanwhile, are seeing a few of their bills advance while also objecting to much of what Democrats are pushing forward. So, what’s moving and what’s not? Let’s take a look.
Budget and Taxes
March 17th will bring the next quarterly tax revenue forecast, followed by House and Senate budget proposal unveilings. The forecast lets budget writers know how much the state can expect to collect from taxes over the next four years. After a bleak forecast last June because of COVID, the September and November forecasts were surprisingly favorable. The March forecast is expected to continue that positive trend. That will make it easier for legislative Democrats to fund their priorities while keeping the next two-year budget in balance. One thing to watch for is whether, and to what extent, Democrats still see the need to tap the state’s $1.8 billion budget stabilization account, also known as the “rainy day fund.” Previously, the Legislature approved and Gov. Jay Inslee signed a $2.2 billion COVID relief measure funded with money approved by Congress in December.