2012 Election

The Financial Impact of This Year's Initiatives

By Erica C. Barnett August 10, 2012

The state's Office of Financial Management (OFM) has released the predicted economic impacts of this year's initiatives. For all of you who've been waiting with bated breath, here are OFM's conclusions.

Initiative 1185, the Tim Eyman-sponsored measure to require a two-thirds vote of the legislature to pass any tax increase, will decrease state transportation revenues by between $22.8 million and $33.1 million through 2017, OFM estimates.

I-1240, which would allow charter schools in Washington State, would cost about $3.1 million to implement.

Referendum 74, affirming same-sex couples' right to marry, would decrease state revenue by $81,000 (because gay couples would no longer be paying the state for domestic partnerships), but would increase counties' revenue by $128,000 over five years (because counties would benefit from new marriage licenses).

I-502, which would legalize and tax marijuana, could bring in as much as $1.9 billion in revenue over the next five years.

Many more details, including the costs of implementing all the measures on this November's ballot, here.
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