I-1033 will cost the state $6 billion by 2015

The Office of Financial Management came out with the official fiscal impact statement for Initiative 1033 yesterday.  Looks like by 2015 the initiative will reduce state revenue by almost $6 billion, counties revenue by $694 million and cities revenue by $2.1 billion.

The Washington State Budget and Policy Center have put these numbers in nice chart form for us visual learners.

Considering education (early learning, K-12 and higher education) make up more than 50 percent of the state’s budget, the loss of $6 billion over the next three biennia is no laughing matter — which is why LEV is opposing I-1033. Read our statement on the initiative here.