Washington’s slowing economy. Plus: income growth and the constititionality of tax limits

September 19, 2008 | Economic Opportunity Institute

Lowered expectations: Fewer housing permits, falling car sales and fewer jobs in the construction sector helped blow away $529 million in expected future state tax collections, top state revenue forecasters said Thursday.

Sluggish personal income growth: Personal income in Washington state grew at a slower pace than most of the country in the second quarter of 2008, according to a federal report.

Tax limits: The state Supreme Court is scheduled to hear arguments Tuesday on voter-approved tax limits that require a two-thirds vote of the Legislature to raise taxes.

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Posted in State Economy, Tax and Budget, Work & Family

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