ESSB 5092 – 2021-23 Operating BudgetBill brief
State Budgets Taxes & Fees
Despite the pandemic, the state operating budget is back to where it was projected to be pre-COVID. State tax revenue increased by 13.6% during the COVID shutdowns and will grow by $4.3 billion in 21-23. The 21-23 budget spends about $58.9 billion in state funds, an increase of $7 billion (13.6%) over 19-21. The increased spending is supported by $4.3 billion in natural revenue growth, a new tax on capital gains, a new $100 surcharge on recorded documents, and a new premium tax on captive insurance companies.
Apple Health Behavioral health Budget Stabilization Account (BSA) Capital gains tax Child care Community custody/supervision COVID-19/corona Developmental disabilities Document recording fee Fair start Federal stimulus funds Forest practices Foster care General fund Health care programs Higher education financing Homelessness Housing Immigrant Relief Program Insurance K-12 education Long-term care services Medicaid Mental health Operating budget Revenue School funding State employee compensation, salaries, benefits and collective bargaining agreements State need grant State parks State v. Blake Substance use disorder (SUD) Supplemental Nutrition Assistance Program (SNAP) Temporary Assistance for Needy Families (TANF) Trueblood Unemployment Insurance (UI) Trust Fund Washington Rescue Plan Transition Account (WRPTA) Workforce Investment Act Working Families Tax Credit