Gov. Gregoire�s statement on latest revenue forecast

For Immediate Release: November 18, 2010

OLYMPIA � Gov. Chris Gregoire today issued the following statement on today�s revenue forecast, which projects a loss of $385 million for the current biennium:

�For the past two years we have been squarely focused on navigating the effects of the great recession. Our revenues have been closely tracking to the September forecast which is why today's news comes as such a great surprise. Further across the board cuts, which would add 4.6 percent to the 6.3 percent reductions I ordered last month, are not feasible.

�I have been working with legislative leadership in both parties to collect ideas on how to address our current shortfall. This forecast has added even more urgency to those discussions and I�ve asked them to provide their options to me by November 29. Quite frankly we can�t cut any deeper without ending significant programs. Extremely difficult choices must be made and given this sharp revenue decline, they must be made now.

�As Governor I have limited tools in how to deal with these shortfalls. With the 6.3 percent across the board cuts currently being implemented, I have already pushed that option to the limit. The Legislature will need to act quickly � delay will only deepen the problem and limit the options.�