capital gains tax

Austin Jenkins / Northwest News Network

Washington Senate Democrats on Friday proposed a capital gains tax that would fund a suite of tax reductions for low-income families, small businesses and senior citizen homeowners. The tax proposal was rolled out in conjunction with the Senate Democrats' unveiling of a $52 billion two-year state spending plan, which followed a House Democratic budget presentation earlier in the week. 

Austin Jenkins / Northwest News Network

Washington House Democrats on Monday unveiled a proposed $1.4 billion tax package, including a new capital gains tax, to fund a two-year budget with ongoing commitments to public schools, increased spending for people with mental illness and higher reimbursement rates for a wide-range of social service providers.

Washington Gov. Jay Inslee is proposing a hefty $10 billion increase in state spending over the next two years to maintain current services and fund new priorities, including mental health and orca recovery. To pay for his budget, the two-term Democrat is once again pushing for a new state capital gains tax on high income earners as well as an increase in the business and occupation tax on professional services.

Austin Jenkins / Northwest News Network

There’s still no budget deal in Olympia, but Washington House Democrats said Friday they’re willing to drop their push for a state capital gains tax.

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Washington House Democrats are doubling down on their pitch for a state capital gains tax while Republicans are reiterating their no-new-taxes mantra.