Olympia, WA — Earlier today (April 19) in the House Finance Committee, the 9-4 Democrat majority voted to increase taxes on Washingtonians by more than $4 billion over the next four years. The new taxes approved by the committee include:
· A capital gains income tax;
· A Business and Occupation tax surcharge on services;
· A graduated real estate excise tax; and
· A change to the nonresident sales tax exemption, turning it into an annual remittance program.
“Despite record revenues, a $3 billion surplus, and voters rejecting tax increases time and time again at the ballot box, the majority party continues to show blatant disregard for anything resembling fiscal sanity. If these new taxes are signed into law, along with the House majority’s proposed spending plan, we will not only have ignored voters’ wishes, but we will also have increased spending by 70 percent since 2013.
“Here locally, residents in the 18th District and across Clark County will be hurt if the state’s nonresident sales tax exemption is turned into an annual remittance program. Hindering cross-border competition will result in businesses closing, jobs being lost, and more families struggling to make ends meet.
“We don’t believe taking money out of taxpayers’ wallets and making our state less competitive is going to improve the prospects of Washingtonians in Clark County or anywhere else. Our state’s policy goals can be achieved within existing revenues without making cuts to necessary programs. We call on the majority party to revise its approach to budgeting and fund our shared priorities with the record revenues we currently have.”
The 2019 legislative session is scheduled to adjourn Sunday, April 28.