This morning, the Seattle City Council’s Finance, Native Communities & Tribal Governments Committee received a joint presentation on the April 2025 Revenue Forecast from the Office of Economic and Revenue Forecasts and the City Budget Office. In the briefing, City officials discussed the pessimistic financial scenario which projects a $102 million shortfall within the current fiscal year and a staggering $244 million deficit over the next two years.

The news highlights major revenue and budget challenges for the state and local governments. Recently, University of Washington Economics Professor Jacob Vigdor stated in a public hearing that Washington state has effectively become a tax haven for the rich, comparable to the Cayman Islands. The proof is in the numbers – while working families (the bottom 60 percent in Washington state) pay up to 13.8 percent of their income in state and local taxes, the wealthiest top one percent of Washingtonians pay just 4.1 percent.

“The revenue forecast released today presents a dire challenge that requires immediate action. This shortfall is real, it’s significant, and it threatens critical essential services that Seattle residents depend on daily,” said Councilmember Alexis Mercedes Rinck (Position 8). “As the Trump-Vance administration and Republicans in Congress continue to slash and burn programs that working families depend on, including food banks, childcare, housing, and natural disaster relief – our city has no choice but to step up. But we can only do that if we ensure the wealthy are paying what they their fair share. We need to lead by example at the local level and not balance the City’s budget on the backs of the working class.”

Moving forward, Councilmember Rinck will be working to review progressive revenue options to address the budget challenges and funding cuts facing Seattle. Her office will also continue to lead the work of the Select Committee on Federal Administration and Policy Changes, where there has been ongoing discussions  on federal cuts and their terrible impacts across multiple basic service areas. Councilmember Rinck will also be planning to host a series of town halls this summer to hear directly from constituents.

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