Revenue report shows now is not the time to increase taxes, Wilcox says

 

 

Today the Washington State Economic and Revenue Forecast Council released its quarterly revenue forecast for expected tax collections. It revealed a minor increase of $59 million in tax collections for the rest of the 2011-13 budget, but $19 million less than originally expected for the upcoming 2013-15 budget. Overall, the 2013-15 budget is expected to be $2 billion higher than the 2011-13 budget.

 

Rep. J.T. Wilcox, R-Yelm, had this to say about today's revenue forecast:

"This continues to show we have a recovering, but fragile economy. People are still hesitant to spend, and employers are still hesitant to hire. These hard-pressed taxpayers are already sending more money to Washington, D.C. due to the reinstatement of the payroll tax and federal health care implementation. Today's report reinforces my belief that now is not the time to increase taxes. Raising taxes would only add more uncertainty to our economy, slowing the potential growth of jobs for the thousands who remain unemployed and underemployed. The good news is the state will still bring in $2 billion more in tax collections than the last budget. The Legislature must use those dollars effectively, living within the means provided by hard-working taxpayers.

 

"We have already seen $10 billion in proposed tax increases. Though the state Supreme Court ruled against the two-thirds requirement to raise taxes, this doesn't mean the Legislature should go straight for people's pockets to balance the budget. The people I represent in the Second District have clearly informed me that they cannot afford more taxes, and that any increase to their costs of driving to work, doing business or buying goods will make their lives harder, not better."

For more information, visit our Web site at: houserepublicans.wa.gov.

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Washington State House Republican Communications
houserepublicans.wa.gov
455 John L. O'Brien Building
P.O. Box 40600
Olympia, WA 98504-0600