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Ferguson Unveils $79B Budget Amid $2.3B Shortfall

12/24/2025

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Summary

Story summary

Washington Governor Bob Ferguson proposed a budget to address $2.3 billion shortfall.
The plan trims $800 million and withdraws $1 billion from the rainy day fund.
Ferguson aims to boost spending to nearly $79 billion and maintain $140 million in reserves by mid-2027.
Ferguson endorses a millionaire's tax, drawing mixed reactions from progressives and lawmakers.
The budget reallocates $569 million from carbon auction proceeds to the Working Families Tax Credit.

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Story summary

Washington Governor Bob Ferguson proposed a budget to address $2.3 billion shortfall.
The plan trims $800 million and withdraws $1 billion from the rainy day fund.
Ferguson aims to boost spending to nearly $79 billion and maintain $140 million in reserves by mid-2027.
Ferguson endorses a millionaire's tax, drawing mixed reactions from progressives and lawmakers.
The budget reallocates $569 million from carbon auction proceeds to the Working Families Tax Credit.