Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Wash. voters approve resolution on budget savings

OLYMPIA, Wash. (AP) — Washington voters have approved a constitutional amendment that requires the Legislature to set aside cash during boom years.

Unofficial results Tuesday night showed the measure passing, with early returns showing support of about two-thirds of voters. The resolution is designed to provide more budget stability, preventing spending from increasing too much during years of high economic growth and providing a cash buffer when revenues are weak.

Lawmakers passed the measure by a wide margin with support from Democratic and Republican leadership along with State Treasurer James McIntire. A small group of Democratic lawmakers opposed the resolution, saying it will leave people paying for taxes and getting nothing but a bigger savings account.

The Associated Press (“AP”) is the essential global news network, delivering fast, unbiased news from every corner of the world to all media platforms and formats. On any given day, more than half the world’s population sees news from the AP. Founded in 1846, the AP today is one of the largest and most trusted sources of independent newsgathering. The AP considers itself to be the backbone of the world’s information system, serving thousands of daily newspaper, radio, television, and online customers with coverage in text, photos, graphics, audio and video.