Officials are now saying the state is expected to take in $1.2 billion less in tax revenue than projected between now and June 2013, according to The Seattle Times. (Read the article.)
Gov. Chris Gregoire said that would mean a loss of $385 million for the current biennium. She added in a prepared statement that “the Legislature will need to act quickly” to address the situation.
According to The Times, Gregoire’s office said she wants to hear from legislative leaders to see if there’s any chance for quick agreement on a solution before deciding on a possible special session.