Wednesday, May 2, 2012

Revenue problems – and solutions

In a four-part online series last month, the private, nonprofit Washington State Budget and Policy Center examined the long-term fiscal challenges facing the state – and included a nifty graphic on the current dysfunctional revenue system. 

That graphic highlighted shortcomings in the current system, including its extremely regressive nature, its failure to reflect growth in the state’s economy and the proliferation of open-ended tax exemptions.

Some members of the House Democratic Caucus were ahead of the curve on this. Back in February, several legislators – mostly first-termers – rolled out a reform package that addressed these concerns and more. The Legislature did not approve those measures before adjourning – but the problems remain.

To read this story in Spanish, please click here.