Now, revenues for the operating budget are projected to hit $66 billion for that two-year budget cycle that begins July 1. State lawmakers this spring approved the new two-year operating budget, which funds schools, parks, prisons, mental health programs and other services.
“Capital gains revenue collections have been stronger than expected and the forecast has been revised up to reflect that,” Steve Lerch, the council’s executive director, said Tuesday in a statement.
“However, the large number of estimated capital gains tax returns means that final collections from this source remain uncertain” for the near future, he added.
The Washington Supreme Court in March ruled that the tax on some capital
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