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March 17, 2017

State revenue projections are higher than expected

OLYMPIA (AP) — Lawmakers on Thursday received a revenue forecast that shows they have a little more money to work with as the Senate and House prepare to release their budget proposals in the coming weeks.

The latest Office of Financial Management numbers that were released at a meeting of the state Economic and Revenue Forecast Council shows found that the state's revenue collections through the middle of 2019 are expected to increase by about $571 million — with $313 million more than originally forecast for the upcoming 2017-2019 budget and $258 million more for the current two-year budget through the end of June. The projected overall state budget for 2017-19 is expected to be $41.6 billion.

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