New Budget Tackles $15 Billion Shortfall With Cuts And Taxes

So, the latest legislative session is over in Washington state, and they have proposed a budget totaling 78 billion for the next biennium. The big ask for this budget, among other things, was to fill that $15 billion shortfall (over the next four years.) and they claim they've done it with spending cuts and tax increases. 

According to cascadepbs.org,
‘One of the biggest priorities this session was closing the state’s anticipated $15 billion budget shortfall over the next four years. 
The final budget package includes $4.3 billion in new taxes over two years, spending cuts and funding for new programs. 
New Governor Bob Ferguson opposed Democrats’ idea to implement another wealth tax, while Republicans staunchly opposed new taxes, saying the budget could be balanced on cuts alone.’ 

It seemed like there was a fair amount of give and take. Some Democrats wanted additional taxes on the rich. Governor Bob Ferguson pushed back on that, asking for more spending cuts. 

One of the biggest cuts was to behavioral health funding. The Department of Children, Youth and Families. There were also cuts to higher education and health care. 

There will be $4.3 billion in new taxes over the next two years. 

According to komonews.com,
‘The transportation funding plan, passed with bipartisan support, includes a $15.5 billion allocation for highway projects, road repairs, and the state ferry system. The plan introduces a six-cent increase in the state's gas tax, that would be effective in July.’ 

It's thought that Governor Bob Ferguson could sign the new budget into law this week.
The Newsfeed: WA lawmakers end legislative session with $78B budget | Cascade PBS
What you need to know after the 2025 Washington legislative session | Cascade PBS
Ferguson could sign Democrats' nearly $78 billion budget this week