Inslee proposes taxing wealthy residents and businesses to close Washington's budget gap

Gov. Jay Inslee entered office a dozen years ago vowing to not raise taxes as Washington emerged from a devastating recession during which state programs and services were slashed to make ends meet.

Now, with the end of his third term only about a month away, the outgoing Democrat is calling for a new tax on the state’s wealthiest residents and a higher tax on businesses. It’s his solution to bridging the state’s looming multi-billion dollar shortfall without another round of drastic cuts.

“We invest in our people. We don’t leave people behind and [most] importantly, we don’t go backwards,” he told reporters Tuesday as he released details of the final budget he will send to legislators.

That plan outlines $79.5 billion in spending in the next two-year operating budget — an increase from $69.8 billion in the current budget cycle. The total does not include spending on transportation or construction projects covered in two separate budget plans.

https://washingtonstatestandard.com/2024/12/17/inslee-proposes-13b-in-taxes-to-overcome-washingtons-budget-shortfall/