This is due in large part to the smart investments in and stewardship of our state and its resources. The House Democrats know real leadership means making tough choices sometimes. Choices that will, in the long run, provide the support our citizens need, and foster the entrepreneurial spirit that’s always been high here in Washington.
With that in mind, House Democrats set out to spur economic growth here in Washington by helping build the next generation of economic drivers – everything from schools, to roads, to high-tech centers and aluminum smelters.
We know that small, local businesses are the key to our economic recovery. So we took steps this session to protect those companies, even as it became necessary to increase revenues. You’ve heard a lot, for example, about the coming increase in the tax on beer. But that increase will only apply to the giant, out-of-state breweries, not our small, local ones. In fact:
- We raised the B&O tax credit for many small businesses, helping them create new jobs.
- We closed loopholes in the tax code that benefit out-of-state companies, helping to level the playing field for our home-grown businesses.
- We extended the rural county sales tax deferral program until 2020 to spur manufacturing and high-tech investment all over Washington.