The Washington Policy Centers Blog is reporting that a draft analysis by the state Office of Financial Management indicates Tim Eymans traffic congestion initiative would cost the state general fund $620 million over five years.
The impact on the budget deficit facing lawmakers in January would be about $290 million, which is what we reported here a month ago.
The agency is expected to publicly release a formal analysis in the weeks to come.
The initiative, in part, would direct 15 percent of all taxes collected on the sale of new and used vehicles into an account that would support traffic programs to synchronize traffic lights, open car pool lanes and pay for more highway crews to clear accidents.
That would cost the state general fund $52.5 million during what would be left of the 2007-09 budget cycle and $238 million for the next two-year budget cycle.
For more Olympia Dispatch see www.olympiadispatch.com
Stay updated with the Olympia Dispatch RSS feed:
http://www.tri-cityherald.com/944/v-highlights/index.rss
Similar stories:
Ben Franklin Transit passes 2012 budget
Ben Franklin Transit passes 2012 budget
Ben Franklin Transit's 2012 budget was passed unanimously Thursday night by the transit board.
The $30.2 million budget maintains routes and services.
The budget as written also does not propose raising fares, but transit officials said that might be considered in 2012.
Proposed Pasco budget maintains services, jobs
Proposed Pasco budget maintains services, jobs
PASCO -- Pasco residents can expect a similar level of service in 2012 as what they have observed this year.
The city's $36.1 million preliminary operating budget maintains services, and while it doesn't add positions, it does not cut jobs either.
The city council will meet at 6 p.m. Tuesday at Pasco City Hall, at 525 N. Third. Ave., to receive a presentation about the 2012 preliminary budget.
DEBT: 2 ratings agencies lower Washington credit outlook
DEBT: 2 ratings agencies lower Washington credit outlook
OLYMPIA — Two ratings agencies have lowered the outlook for Washington’s debt, citing the state’s ongoing budget troubles.
Moody’s Investors Service said in its rationale released Monday that the state faces challenges in fixing structural budget problems.
Fitch Ratings has also lowered its outlook from stable to negative, releasing its explanation in a note Friday.
State shouldn't count on voter support for taxes
State shouldn't count on voter support for taxes
We agree with Gov. Chris Gregoire on at least one thing -- cuts in state spending she proposed last week are unacceptable.
"I have seen the ramifications of the cuts," Gregoire told reporters at a news conference in Olympia. "I can't live with it."
But her call for a statewide referendum on a temporary half-cent sales tax increase is premature. The last thing Washington taxpayers need at this stage is to let the Legislature off the hook by dangling some false hope of new revenues.
State shouldn't count on voter support for taxes
State shouldn't count on voter support for taxes
We agree with Gov. Chris Gregoire on at least one thing -- cuts in state spending she proposed last week are unacceptable.
"I have seen the ramifications of the cuts," Gregoire told reporters at a news conference in Olympia. "I can't live with it."
But her call for a statewide referendum on a temporary half-cent sales tax increase is premature. The last thing Washington taxpayers need at this stage is to let the Legislature off the hook by dangling some false hope of new revenues.
Print
Email Story
