Following the release of the city of Seattle’s revenue forecast on April 8, Seattle Metropolitan Chamber of Commerce President & CEO Rachel Smith issued the following statement:
“Today’s revenue forecast shows the General Fund is now expected to be $44.7 million higher than originally budgeted in 2024, and experts are projecting continued growth in city revenues in 2025 and 2026. In particular, the payroll expense tax, known as JumpStart, is up an astounding $81.4 million over what the city brought in from the tax in 2023 alone.
With the recent approval of the city’s labor coalition contract, and details just released on the Seattle Police Officer’s Guild contract, the real scope of the budget deficit is coming into view. In our most recent installment of The Index, being released April 9, 80% of voters believe the city of Seattle has enough money to address important priorities, it just needs to spend tax dollars more effectively. Now, it’s time for the mayor and city council to follow the lead of the voters, roll up their sleeves, and get to work.”
About The Seattle Metropolitan Chamber of Commerce
The Seattle Metropolitan (Seattle Metro) Chamber of Commerce is a regional business advocacy organization that helps our 2,500 members thrive in an equitable and inclusive regional economy. Founded in 1882 by local business leaders, the Chamber today is an independent organization representing a regional workforce of approximately 750,000. For more information, visit www.seattlechamber.com.