State's tax revenue expected to rise
Jun 20 2002
Washington states economic council pronounced Tuesday that tax revenues should begin to rise over the next three years, a further sign that the states recession has bottomed out.
The Economic Revenue Forecast Council reported Tuesday that tax collections are expected to rise by more than $55 million during the next three years, a change that, while slight, is likely to keep legislators out of a special session to deal with painful budget cuts.
State Budget Director Marty Brown called the increase just sort of a tweak, given the $22.5 billion size of the two-year budget.
State economist Chang Mook Sohn said Washingtons economy should bottom out this summer and begin a period of stability before building toward recovery.
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