Arun Raha, feels that we may be slowly approaching the bottom of our state's economic decline.  He stated:

"...it is easy to miss the first early signs of a recovery.  After a very weak holiday season, retail sales appear to be stabilizing, housing starts look like they have bottomed out, bond spreads have tightened, used car prices have firmed up, some of the larger banks have indicated that they have been profitable in the first two months of the year, and investors appear to be returning to equity markets.

We have taken note of these positive signs, but it is still too early to tell if they will be sustained."

I sincerely hope this new revenue forecast is an indication that our economy is beginning to stabilize.  We may see some small downward trends in upcoming forecasts, but I'm hoping the sharp drop in revenue collections is coming to an end.

The most important thing to remember about our economy and our revenue collections is this: We are in the midst of a consumer-led recession -- consumers will be the ones to lead us out, not more government spending.  We need to put all talk of tax increases to rest.  We can -- and we must -- balance the budget without raising taxes on hard-working families.

We're almost two-thirds of the way through this session yet don't have a true supplemental budget nor an official, published plan of closing our state's multi-billion dollar budget shortfall.  Now that we've seen the official March revenue forecast, I hope we can get to work putting our state budget on the path of sustainability, accountability and transparency. Thank you for staying involved and continuing to contact my office with your questions and concerns.  It is a privilege to serve you in Olympia. Sincerely, Joe Schmick State Representative, 9th Legislative District

Rep. Schmick confers with 7th District Reps. Shelly Short and Joel Kretz on the House floor last week.

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Cap and Trade update:
While the House version of Gov. Gregoire's cap and trade proposal didn't make it past last week's cutoff and is therefore considered "dead" for the rest of this session, the Senate's version of the bill, Senate Bill 5735, is still alive.  The governor came and testified in front of the House Ecology and Parks Committee this week and said the Senate version has been watered down too much.  She wants a definite cap put in place, not just a study of the cap, as the amended Senate bill would require.

During her testimony, attention was drawn to page 2, line 20 of the bill.  The text in the bill says the state shall adhere to the following principles, and then lists "(5) Assuring the protection of low and moderate income households." My point was - and continues to be - there are increased costs to consumers, especially low- and middle-income households, with this type of legislation.  Our families are going to see higher energy, utility, and goods and services bills.  The legislation's own language verifies and justifies my concern of higher costs to  everyone!  And to reiterate a point I mentioned earlier, we're in the midst of a consumer-led recession.  Anything that takes more money out of consumers' pockets, be it an increase in taxes or an increase in energy and utility bills, hurts both our hard-working families and our state's economy in general.

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Upcoming 9th District Tele-Town Hall I am looking forward to the opportunity to use some new and exciting technology to host a 9th District electronic town hall meeting on Thursday, April 2 at 7:00 p.m.  This "Tele-Town Hall" will allow you to listen in and ask questions from the comfort of your own home!  Citizens who wish to participate should dial toll-free 1-877-229-8493 and enter pin number 14685 when prompted. I believe it is important for citizens to connect with their representatives in the Legislature in any way possible.  I so much appreciate those of you who have been able to make it over during session.  Many of you have called my office or e-mailed me with your thoughts.  This "Tele-Town Hall" is just another way for me to stay connected with the people, values and opinions I represent in Olympia.  I encourage you to participate if you are able.  Even if you don't want to ask question you can still listen in to the interesting debate.

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