A group of 13 House Democratic
freshmen kicked off a conversation this morning to discuss plans for the
long-term fiscal health of Washington and bringing fairness to the state tax
code. These lawmakers are bringing a number of issues to the table such as
simplifying the B&O tax, requiring periodic legislative review of tax
preferences, and adopting a capital gains tax.
Washington is the only state exempting out-of-state
residents from paying sales tax. Rep. Kris Lytton has plans to end this
loophole and, by redirecting the estimated $52 million/biennium, is pushing to
fully fund all-day kindergarten.
Rep. Steve Tharinger stressed
the need for careful analysis of the tax giveaways that have been in the books
for almost a century, to see if those funds could be used in better ways to
help rural communities that have not been spared from budget cuts.
A measure to re-balance the tax burden was put forth by Rep.Laurie Jinkins, which would apply a five percent excise tax on capital gains in
excess of $10,000/year. This would generate approximately $1.4 billion per biennium that would be used to protect education
and health care from further devastating cuts.
The House Democratic freshmen realize these aren’t solutions
to the state’s immediate budget problems, but rather emphasized this
new approach to funding our state’s most vital services, ensuring long-term
stability for Washington residents.
The
legislators are planning a summer ‘listening tour’ in their home and
neighboring districts to discuss these proposals with their
constituents.
To read the press release about this morning’s news
conference, click here.
To read this post in Spanish, click here.
To read this post in Spanish, click here.
Watch the press conference below: