Pictured is Gov. Bob Ferguson, center, flanked by Washington Attorney General Nick Brown, left, and Treasurer Mike Pellicciotti, right, at a news conference in Olympia on Feb. 13, 2025. (Ken Lambert / The Seattle Times)
Washington’s economy is strong, with steady tax revenues and a healthy 4.3% unemployment rate. Yet, state lawmakers are grappling with what they claim is a $12 billion budget shortfall. Critics argue this deficit is more a result of overspending than a true financial crisis.
Governor Bob Ferguson, who took office in January, has pushed back against calls for new taxes, including a proposed wealth tax and increased business taxes. Instead, he has urged a hard look at spending cuts, including potential state employee furloughs, to balance the budget without harming the economy.
Despite warnings from economic forecasters, lawmakers had previously budgeted for an unrealistic 4.5% revenue increase, leading to unsustainable spending. Over the last decade, the state budget has doubled, even outpacing inflation. Meanwhile, key areas like special education and school maintenance remain underfunded, putting many districts in financial distress.
Governor Ferguson has vowed to protect education funding while addressing the budget gap responsibly. As lawmakers debate solutions, businesses and taxpayers alike are watching closely, hoping for fiscal discipline that avoids stifling job growth and economic stability.
Now is the time for responsible governance, not new taxes and spending.
