Budget

WSLC: As Sine Die Nears, Values-Based Operating Budget Comes First

It is clear to us that we need more revenue to adequately fund an operating budget that takes care of our state’s needs and the workers who provide these essential services. There are a number of revenue options on the table — capital gains, B&O tax reform, closing tax loopholes, and a carbon fee — to name just a few.

Overtime: Washington Legislature Going Into Special Session

The House’s budget chair said Tuesday Washington lawmakers will not finish their work by Sunday’s deadline and will need a special session to work out the details on the state budget and adequately paying for public education. Gov. Jay Inslee agreed with Rep. Ross Hunter’s assessment.

9 charts that explain taxes in America

Payroll taxes — taxes on wages for Social Security and Medicare — account for almost as much tax revenue as the individual income tax does. Some payroll taxes are typically paid by employers, but economists agree they end up coming out of money employees would have earned.

State’s Tax Freedom Day Later Than Most

Our state will be the 41st in the nation to reach its Tax Freedom Day this year. That puts us among the nation’s top 10 highest-taxed states, along with New York, Connecticut, New Jersey, Illinois, Minnesota and California.

State Treasurer Calls for Income Tax to Help Fund Education

Among other things, the McIntire plan would institute a 5 percent personal-income tax with some exemptions, eliminate the state property tax and reduce business taxes. McIntire argued that an overhaul is necessary because the state’s current tax structure has caused the tax base to shrink over the past few decades. A Constitutional amendment would also establish a three-fifths majority-vote requirement in the Legislature to change taxes.

In Olympia, Not Much Talking in State Budget Talks

With just a week before the legislative session officially ends next Sunday, talks have broken down over bridging the gaps between the two parties’ widely different perceptions of how to fund education, social programs and other government basics.

Is Support for Income Redistribution Really Falling?

It is important to acknowledge that rising inequality doesn’t, by itself, generate a surge in support for redistributive policies. But when the debate gets down to specific proposals, redistributive arguments can still win out.

Progress in Focus: The Case for New Revenue Sources

Washington state taxes small businesses much more heavily than it taxes medium and large businesses. B&O taxes small businesses – those with $5 million or less in gross receipts each year – an average 1.7 percent of gross income.