An introduction to the WA state budget: The General Fund and sources of revenue

Taken from Washington State Budget 101

Every 2 years the legislature and Governor adopt a budget.

The General Fund Budget is based on state tax revenues.

In addition to the General Fund, the state receives money from the federal government for specific services, such as Food Stamps, Medicaid, and children’s health.

The state also has separate budgets for transportation, funded by gas tax, and capital construction.

Where does revenue come from?

Sales tax funds half the budget. The state collects 6.2% on sales of most goods, construction and repair services. Local governments collect additional sales tax.

Businesses taxes include the Business & Occupation (B&O) and Public Utilities Tax (PUT).

Property taxes mostly fund services in local communities, but about 20% goes to the state to support public schools.

  • Leave a Reply

Your email address will not be published. Required fields are marked *

More To Read

January 25, 2023

Top 5 Fixes for High Health Care Prices

High health care costs are driving Washington workers and families over the edge

December 15, 2022

2023 Legislative Agenda

By strengthening the core pillars of our economy – including child care, health care, educational opportunity, economic security, and our public revenue system – we can diminish economic, racial, and gender inequity.

December 7, 2022

One missing piece in Washington’s tax puzzle: A wealth tax

The way our state raises money is not fair. A wealth tax would help right that wrong.