Reinstating a state expenditure limit to promote sustainable budgets and create permanent tax relief for all Washingtonians.

HB 2448 establishes a new annual spending cap for Washington's state general fund, limiting growth to inflation and population changes starting in 2027. The cap automatically adjusts each November based on actual spending and economic forecasts, requiring the state treasurer to prevent overspending. It allows temporary 24-month exceptions only for declared natural disasters, not for routine budgeting. The bill does not change tax rates but aims to control budget growth through this spending limit.