Gov. Jay Inslee’s budget proposal for 2023-25 includes a referendum that would allow legislators to front-load $4 billion of housing construction over the next six years. The fast-track construction plan recognizes the need to create more than 1 million housing units “for households of all incomes” by 2044.
According to a recently released report highlighting the proposed budget and policies, the governor is proposing a statewide voter referendum as the “cornerstone of the governor’s 2023-25 housing and homelessness plan.” It would enable the state to raise $4 billion over the next six years by issuing bonds outside Washington’s debt limit. No tax or fee increases are included in the proposal.
The state had a housing deficit of 81,400 units as of 2021, according to the governor’s report.
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