Good Economic News Sprinkled with Caution

The good news is Washington’s revenues continue to grow, and projections for the next couple of years appear promising. That is welcome news, but it is sprinkled with caution about introducing new taxes.

Our state’s Economic and Revenue Forecast Council (ERFC) quarterly update shows a whopping 17.3 percent increase in state income for the current biennium. That welcome announcement comes just in time for Christmas.

For background, Washington’s budget is on a two-year cycle. The current spending plan started in July, 2017, and runs through June, 2019. State tax collections, boosted by robust ec...