Kriss Sjoblom

Senate passes capital gains tax bill

On February 23rd I wrote about the capital gains tax bill passed by the Senate Ways and Means Committee, SSB 5096. Under this bill, the tax rate would be 7%, and the first $250,000 of capital gain would be excluded from tax for each return, without regard to whether the filer is a single individual […]

In Washington 12,958 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 18,401 initial claims for unemployment insurance during the week ending February 27. Of this total, 12,958 initial claims were filed under the regular state unemployment insurance program; 2,307 claims were under the federal pandemic […]

Update on personal income, consumer spending and saving rates during the Covid-19 recession

Here are updates of two charts I have previously posted regarding income and consumer spending during the Covid-19 recession, including new numbers for January and revisions to numbers for prior months. As a result of the $900 billion federal relief package enacted in late December, personal income rose 10.0% from December to January. Consumer spending […]

In Washington 14,043 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 19,476 initial claims for unemployment insurance during the week ending February 20. Of this total, 14,043 initial claims were filed under the regular state unemployment insurance program; 2,277 claims were under the federal pandemic […]

Capital gains bill advances

In January, Emily wrote about the capital gains tax included in Gov. Inslee’s budget proposal and introduced as SB 5096. On February 16, the Senate Ways and Means Committee passed substitute version of the bill, SSB 5096.As passed by the committee, the tax rate is 7%, down from 9% in Gov. Inslee’s proposal. In the […]

In Washington 13,607 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 19,792 initial claims for unemployment insurance during the week ending February 13. Of this total, 13,607 initial claims were filed under the regular state unemployment insurance program; 2,638 claims were under the federal pandemic […]

State tax collections again exceed forecast

Today’s monthly report from the state’s Economic and Revenue Forecast Council (ERFC) on general fund revenue collections once again brought good news. For the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest (collectively the Revenue Act receipts), this report covers payments […]

In Washington 15,644 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 22,784 initial claims for unemployment insurance during the week ending February 6. Of this total, 15,644 initial claims were filed under the regular state unemployment insurance program; 3,150 claims were under the federal pandemic […]

A wealth tax for all?

A bill has been introduced in the state house of representatives that would impose a 1 percent wealth tax on financial assets held by the state’s wealthiest residents. This bill, house bill 1406, received a hearing before the house finance committee on Tuesday. The text of the bill is here. The fiscal note for the […]

In Washington 16,102 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 26,316 initial claims for unemployment insurance during the week ending January 30. Of this total, 16,102 initial claims were filed under the regular state unemployment insurance program; 3,623 claims were under the federal pandemic […]