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Why new taxes are likely even as Washington is flush with cash


Why new taxes are likely even as Washington is flush with cash
Democratic lawmakers say now is the moment to fix the state’s regressive tax code, which they say unfairly burdens low-income people.
by
The Washington State Capitol in Olympia, April 2, 2019. (Matt M. McKnight/Crosscut)
A decade after the Washington Legislature slashed programs during the Great Recession, lawmakers now find themselves in a very different situation. They have plenty of money to maintain existing programs through the next two years and beyond. 
But top Democratic leaders say the status quo isn’t good enough and hasn’t been for some time.  ....

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Washington Senate Finally Passes Capital Gains Tax


by Rich Smith

Mar 6, 2021 at 6:08 pm
About goddamn time. Lester Black
After nine long years of effort and a long debate Saturday afternoon, the Washington state Senate narrowly passed a proposal to tax capital gains on a 25-24 vote.
Democrats who joined Republicans in voting against the measure predictably included Sens. Mark Mullet, Steve Hobbs, Annette Cleveland, and Tim Sheldon.
The bill will now head back to the House for approval, which it will likely receive given that chamber s support for the tax in the past. Governor Jay Inslee included a version of capital gains tax legislation in his budget proposal this year and in previous years, so he won t be a roadblock either. ....

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