Proving yet again that you can’t tax your way to economic prosperity, Washington state’s 25-27 budget is now negative by $421 million. According to the state’s September Revenue Forecast, projected revenues have been reduced by more than $400 million, resulting in a budget deficit. This news follows lawmakers enacting the largest tax increase in state history earlier this year (by more than $9 billion). One of the major components of that tax increase (sales tax on digital ads) is currently being challenged by Comcast for violating the federal Internet Tax Freedom Act.

Despite the state’s budget now showing a negative balance sheet, it doesn’t sound like Gov. Ferguson plans to take any immediate action.

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