Important Dates To Know for Government Budget Crisis

STATE BUDGET: Since the national recession began, the state has made nearly $10 billion in cuts. The most current revenue forecast shows that the state may have a further decrease of $1.4 billion.  Governor Gregoire has warned that additional reductions will continue to hurt public health, safety and education programs.
While each of these items are subject to change, here is some information about upcoming important state legislative dates:

• October 24th-Governor Gregoire presents her budget plan recommendations
• November 17th-New budget forecast is released
• November 28th-Washington State Legislature meets for special session (can last as long as 30 days)

NATIONAL BUDGET: The recently established Joint Select Committee on Deficit Reduction's (referred to as the Congressional “super committee”) goal is to come up with ways to reduce the deficit by $1.5 trillion over fiscal years 2012 through 2021 and in so doing, “provide recommendations and legislative language that will significantly improve the short-term and long-term fiscal imbalance of the Federal government.”

If the Committee cannot agree on a report and legislative language, then across-the-board reductions in spending must be implemented, with annual cuts starting in 2013 – split 50/50 between defense and domestic spending.

While each of these items are subject to change, here is some information about upcoming important national legislative dates:

• October 14: House and Senate committees must transmit to the  Joint Select Committee their “recommendations” for law changes necessary to meet the goal of  Joint Select Committee
• November 23: the  Joint Select Committee must vote on a report which will contain its findings, conclusions, and recommendations, as well as the dollar estimates provided by the Congressional Budget Office, and legislative language in support of those recommendations.
• No less than one month after November 23, if the  Joint Select Committee approves a report and legislative language, it must be voted on by both the Senate and House — without amendments.