A balanced budget and economic recovery for Washington state

Tomorrow, Governor Gregoire will unveil what she predicts will be a very “ugly” budget. It will likely be balanced solely through cuts that will slow our state’s recovery from recession and undermine the future of our children, families, and businesses.

We will not be able to get Washington’s economy – or the nation’s – on track to sustainable growth without rebuilding a financially secure middle class.

There is a better way to close the projected budget deficit. By raising new revenues for strategic investments and modernizing our workplace standards and social insurance systems, Washington can build a sustainable 21st century economy where opportunity and prosperity are more broadly shared.

EOI’s just-published “Economic Stimulus and Recovery Plan for Washington”  pairs revenue increases with tax reductions that benefit moderate- and low-income families and local businesses. The plan:

  1. Puts money into the pockets of people who will immediately spend it locally;
  2. Builds the infrastructure of transportation and energy-efficient technology our 21st century economy needs;
  3. Educates and trains the workforce for that economy;
  4. Strengthens our state tax structure to better finance both immediate and long term needs; and
  5. Modernizes workplace standards and benefits to serve today’s families and businesses.

Economic Stimulus and Recovery Plan for Washington: Summary | Full Report

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