A Washington Research Council policy brief unpacks the numerous differences between the state Senate and House state budget proposals.
Both houses are in the midst of reconciling the differences to send a new, two-year state spending plan to Gov. Jay Inslee for approval.
WR continues opposing several new tax proposals in either plan. WR maintains that the state can pass a balanced state budget without new taxes because of steadily rising state revenues the past decade. WR also has warned that increased spending will not be sustainable and force difficult spending cuts once the economic recovery slows.
The House and Senate have passed varying operating budgets:
- The House would appropriate $52.9 billion. The Senate plan would appropriate $52.1 billion.
- Both plans call for increased fees for various business services, different capital gains taxes, increased real estate excise taxes and eliminating the out-of-state sales tax exemption. WR opposes these new tax proposals as unnecessary to balance a new budget.
- The House plan would leave $2.57 billion in state financial reserves while the Senate plan would leave $2.96 billion in the bank. Click here to read the report.