Seattle still faces $150 million budget shortfall
Aug 6, 2025, 2:48 PM | Updated: 2:49 pm
The downtown Seattle skyline is viewed from a bridge over Interstate 5 in the University District. (Photo: George Rose, Getty Images)
(Photo: George Rose, Getty Images)
Just days after passing a resolution to tax rich corporations, like Amazon, Seattle said it is still facing a $150 million budget shortfall.
Seattle’s projected deficit for the next two years is $176 million.
That’s due to a combination of slow job growth and higher inflation from tariffs, according to Ben Noble, director of the City of Seattle’s Office of Economic and Revenue Forecasts.
“That combination is a bit of a recipe for disaster,” Noble said.
Changes to the national interest rate intended to offset slow growth could lead to increased inflation. Keeping the interest rate where it is — could mean stagnation.
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