Washington state’s economic council pronounced Tuesday that tax revenues should begin to rise over the next three years, a further sign that the state’s recession has bottomed out.
The Economic Revenue Forecast Council reported Tuesday that tax collections are expected to rise by more than $55 million during the next three years, a change that, while slight, is likely to keep legislators out of a special session to deal with painful budget cuts.
State Budget Director Marty Brown called the increase “just sort of a tweak,” given the $22.5 billion size of the two-year budget.
State economist Chang Mook Sohn said Washington’s economy should bottom out this summer and begin a period of stability before building toward recovery.