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February 28, 2024

State budget in limbo due to repeal effort of carbon act

Associated Press

SEATTLE — A conservative-backed effort to repeal Washington state's landmark carbon pricing program and tax on the sale of stocks and bonds is putting the budget into limbo, with billions of dollars at stake and just days left in this year's legislative session.

Lawmakers are scrambling to finalize a trio of statewide supplemental budgets that feature new investments in everything from curbing the opioid crisis to electric ferries before the regular session ends March 7. But initiatives that are expected for the November ballot could cumulatively strip more than $2.1 billion from the bottom line.

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