Office of Governor Gary Locke
FOR IMMEDIATE RELEASE - February 19, 2002
Contact:  Governor's Communications Office, 360-902-4136

Gov. Locke’s statement on latest revenue forecast

“This morning, the state Office of the Forecast Council announced that our official state revenue forecast went down by another $246.8 million. Combined with the $1.25 billion deficit announced two months ago, we are now looking at a deficit of more than $1.5 billion in the 2001-03 biennial budget and that deficit may worsen with tomorrow’s forecast on school enrollment, rising social service caseloads and increasing prison populations.

“These official revenue forecasts are the numbers the Legislature and my office are required by law to use in preparing state budgets. Today’s revenue forecast and tomorrow’s caseload forecast means that more painful and cost cutting measures need to be considered. In addition, we will consider revenue options such as closing outdated tax exemptions and loopholes.

“It remains my hope we can balance the state budget without a general tax increase.

“I will hold a media availability today at 3 p.m. in Olympia to offer more details on these proposals.”

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Related Links:
- Office of the Forecast Council
- Office of Financial Management

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