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Council adopts February transportation revenue forecast after ERFC reports $101 million near-term shortfall
Summary
The Transportation Economic and Revenue Forecast Council approved a February revenue update that trims state transportation receipts by about $101 million in the current biennium and $86 million in the next, driven mainly by lower fuel consumption, falling registrations and data irregularities after a Department of Licensing system change.
The Transportation Economic and Revenue Forecast Council adopted its February update to the state transportation revenue forecast after staff reported lower-than-expected receipts driven primarily by fuel consumption and vehicle registration changes and flagged a data irregularity tied to a Department of Licensing system change.
For the current biennium, ERFC Executive Director Dave Reich said, "we've reduced the forecast by $101,000,000 by 1.1%." He said the next biennium's forecast is lower by about $86,000,000 (about 0.8%). Reich attributed roughly two-thirds of the current-biennium decline to reduced gas-tax receipts and cited about $28,000,000 in lower license and permit revenues.
Why it matters: transportation revenues fund roads, ferries, toll programs and related capital planning; a smaller forecast narrows projected resources available to deliver projects and affects planning assumptions for…
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