Last week state Superintendent Randy Dorn released a $2.2 billion education spending proposal. Today state Treasurer Jim McIntire proposed a way to pay for that new spending. His proposal would:

• Eliminate the state property tax, lower regular property tax limits, and limit excess local school levies;
• Set the B&O rate at 1.0 percent for business services and at Boeing’s 0.29% for all others;
• Cut the state sales tax to 5.5 percent;
• Creating a constitutional 5 percent flat rate income tax dedicated to education (with a $50,000 deduction for a typical family of four); and
• Require a 3/5 vote of the legislature to make any changes to the income, sales or B&O rates.

According to Opportunity Washington,

At his press conference, McIntire described the plan as “a starting point to provoke a conversation.” It’s not a proposal for this year, but one that might result in a constitutional amendment for the ballot next year. His plan would raise about $7 billion in state revenue, lower local levies by $3 billion, providing for net biennial increase of $4 billion for education.