Tax collections tumble again in latest Washington budget forecast
Washington lawmakers and the governor Tuesday got the grim state revenue news they’ve been expecting.
Estimates show tax collections for the two-year operating budget that begins July 1 will be hundreds of millions of dollars less than what they assumed when they passed the budget that Gov. Bob Ferguson signed last month.
Revenues are lagging as consumers grow cautious and businesses retrench in response to the Trump Administration’s shifting approach on tariffs and trade. Many people are also tightening their spending while Congress ponders cuts to federal programs like Medicaid and food stamps.
The decline in receipts will force the state to draw down savings, but Ferguson isn’t summoning the Legislature into a special session to respond.
https://washingtonstatestandard.com/2025/06/24/tax-collections-tumble-again-in-latest-washington-budget-forecast/