
	Chris Mulick has worked for the Herald since 1998 and has served as the statehouse correspondent covering state government and politics since 2000. He works year-round out of the Herald's Olympia bureau on the state Capitol campus. Have a question? Send Chris an e-mail and he'll answer the best questions regularly.

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Thursday, Sep. 11, 2008

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Phew! August tax collections meet expectations

State tax collections for the period from August 11 through Wednesday were actually $6.8 million higher than forecast, which simply means the state’s budget hole won’t deepen further on that account.

It was pegged by the Senate Ways and Means Committee staff to be $2.7 billion based on the last quarterly revenue forecast.

Since then revenue collections for the months of June and July fell short of expectations by about $120 million.

A new quarterly forecast is due out Sept. 18 (a week from today). And when the deficit is next re-calculated it’ll include the new revenue forecast and an update on caseloads (demand for state services).

It may not include any assumptions for new state worker contracts, a paid family leave benefit and a working family tax credit, all of which would widen the budget gap.

UPDATE: Richard Davis over at the Washington Alliance for a Competitive Economy breaks the news down further here.

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