OLYMPIA, Wash. (AP) — The state treasurer says Gov. Chris Gregoire and the Legislature must act quickly to address a serious cash-flow problem.
In a recent letter to top state officials, Treasurer Jim McIntire says the state could actually run out of money by September if the government’s finances aren’t addressed.
If that happened, the state could be forced to take on short-term loans to pay its bills. And that could hurt the state’s credit rating.
McIntire says it will take “prompt, decisive action” to bring cash balances back in line.
Gov. Chris Gregoire says the budget that she proposed late last year would address McIntire’s concerns. Gregoire is planning to unveil a proposed tax package soon, to buy back some of the spending cuts in her budget plan.
