State facing $8.8 billion less in state revenue through mid-2023, forecast shows

The Bellingham Herald

The COVID-19 pandemic has blown an $8.8 billion hole in Washington state’s budget through mid-2023, potentially triggering new taxes and spending cuts if the economy remains in a deep recession.

The state on Wednesday said revenue could decline by $4.5 billion through the end of June 2021 in the $53 billion operating budget and by $4.3 billion in the two-year budget that lawmakers will adopt next year.

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Thursday, June 18, 2020 - 1:13pm