Research Council reports on possible new tax ideas for this year

Jan 22, 2020
Written by wpengine

Though it is early in the current 60-day Legislative Session, the speculation has begun about as yet unproposed 2020 ideas to raise new taxes.

The Washington Research Council has compiled a few possibilities from various public sources that also are speculating on the developing political agenda in Olympia and Seattle.

They include:

  • A Seattle payroll tax that could raise up to $500 million a year in new revenue
  • A King County tax or a tax based on highly-paid employees mentioned by Seattle Mayor Jenny Durkan
  • A new tax could go through the Seattle City Council or wind up on a public ballot, the council reports.
  • State legislators have asked the state Supreme Court to rule on a proposed Seattle income tax on wealthy residents. The Seattle City Council has approved the tax but it has been challenged through the lower courts.
  • A capital gains tax commented upon in general terms by House Speaker Laurie Jinkins.

A workgroup on studying possible changes to the state’s tax structure has just begun its work.

Read more.