US EditionWashington lawmakers propose new taxes to combat budget deficit
- Washington lawmakers proposed tax increases, including Senate Bill 5815, to address the state's budget deficit.
- A $16 billion budget shortfall over the next four years prompted Democrats to seek new revenue sources, rather than program cuts.
- The proposed changes include B&O tax hikes, a surcharge for large companies, and an excise tax on stock sales over $1 million.
- Rachel Smith stated that new taxes, along with tariffs, could devastate businesses, potentially forcing layoffs, and business model changes.
- Corporations and some lawmakers are protesting the tax plans, arguing they will harm working families and drive businesses out of state.
32 Articles
32 Articles
Revenue proposals undecided for state
Peninsula Daily News Peninsula Daily News - Your #1 News Source for the Olympic Peninsula, Port Angeles, Sequim, Port Townsend and beyond. Peninsula legislators differ on their support Revenue proposals undecided for state Emma Maple
Ferguson rebukes $12B tax proposal from WA lawmakers
A recent $12 billion tax proposal from Democratic lawmakers in Olympia was basically nixed by Democratic Washington Governor Bob Ferguson on Thursday. In a proactive move, the Democratic governor hinted he may veto the taxes should they be part of the tax plan to balance the state budget. Ferguson, normally a champion for progressive reforms, didn’t mince words Thursday when reacting to the proposed tax package from House and Senate leaders. In …
The Center Square
clarkcountytoday.comHundreds rally in Olympia against proposed tax increases
(The Center Square) – Hundreds of frustrated Washingtonians rallied on the steps in front of the Legislative Building in Olympia on Tuesday afternoon – Tax Day – to let majority
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