The projected revenue collections for the 2023-25 state budget increased by nearly $327 million due to the capital gains tax that went into effect last year. “Capital gains revenue collections have been stronger than expected and the forecast has been revised up to reflect that,” said Steve Lerch, executive director of the Economic and Revenue Forecast Council. “However, the large number of estimated capital gains tax returns means that final collections from this source remain uncertain. Otherwise, relatively small changes in the economic forecast have given rise to small adjustments in the revenue forecast.” Total Near General Fund revenues are now projected at $66 billion for the next two-year budget cycle for the state, which begins July 1. Read more: https://www.king5.com/article/news/local/olympia/washington-revenue-capital-gains-tax-2023-25-forecast/281-61ea80fe-6a96-417b-8686-76c8e945e079