Another study finds not having an income tax is good for a state's business climate
The Small Business and Entrepreneurship Council is out with its annual business tax climate report. (Press release here and pretty cool interactive map here.) According to SBEC, Washington has the 5th best business tax system. SBEC constructs its index using 18 measures: The 18 measures are: 1) state’s top personal income tax rate, 2) state’s top […]
April 10 , 2012 - Richard S. Davis
Why pension reform matters
Kriss’s post below neatly lays out the argument for reforming the state pension system, one of the remaining issues under discussion in the 11th hour discussions in Olympia today. The Research Council has paid close attention to pension issues over the years, for example in the 2011 policy brief, Reforming Public Pensions. The Seattle Times today […]
March 16 , 2012 - Emily Makings
Senate Reforms: Public Employee Retirement
The Senate 2012 supplemental proposal would make changes to public employee retirement plans. ESB 6378 passed the Senate March 3, by a vote of 25-24. It would close Teachers’ Retirement System (TRS), School Employees’ Retirement System (SERS), and Public Employees’ Retirement System (PERS) Plans 2 to new entrants as of July 1, 2012. It would […]
February 20 , 2012 - Emily Makings
Washington Union Membership, 2011
In January, the Bureau of Labor Statistics (BLS) released its 2011 Union Members Survey, which Dick wrote about here. Briefly, BLS found that union membership was 11.8 percent nationally, with a public-sector union membership rate of 37.0 percent and a private-sector membership rate of 6.9 percent. Using BLS data, Professors Barry Hirsch (Georgia State University) […]
January 30 , 2012 - Richard S. Davis
U.S. Chamber gives WA poor marks for employment laws and regulations
At Olympia Business Watch, AWB president Don Brunell writes that the latest review of state employment laws and regulations by the U.S. Chamber of Commerce again places Washington in the “poor” category, along with 14 other states. The Chamber’s study assigns each state one of three grades: Good, Fair, Poor. As Brunell points out, there […]
December 30 , 2011 - Emily Makings
The Comprehensive Annual Financial Report and Workers' Comp Audit
The State Auditor’s Office has released its 2011 Comprehensive Annual Financial Report (CAFR) Summary. Total government expenses declined 7.42 percent from 2010, with the largest reductions coming from workers’ compensation (-71.44 percent) and unemployment insurance (-21.97 percent). Unemployment compensation activity reported operating income of $171 million in fiscal year 2011 versus a loss of $985 […]
December 01 , 2011 - Emily Makings
2012 Workers' Comp and UI Taxes
Today the Department of Labor and Industries (L&I) and the Employment Security Department announced the workers’ compensation and unemployment insurance tax rates for 2012. For workers’ compensation, there will be no overall increase in premiums. The L&I press release states: In September, the agency proposed a 2.5 percent increase. The decision to hold overall rates […]
October 28 , 2011 - Richard S. Davis
Taxes on table in NY, Colorado; California governor wants pension reform
As Washington lawmakers look at bleak budget options, they may find some guidance in proposals elsewhere. Colorado voters decide the fate of Proposition 103 next Tuesday. Stateline.org describes it this way: Proposition 103, a measure that would increase sales and income taxes to provide money for public education. The controversial measure, which would generate $2.9 […]
October 25 , 2011 - Emily Makings
Economic Assumption Changes for WA's Retirement Systems
Yesterday the Pension Funding Council met and agreed to make changes to the economic assumptions of state retirement systems, including lowering the investment return assumption from 8 percent to 7.9 percent for the 2013–15 biennium. Additional reductions in later biennia were not agreed to at this time. At the end of August, the Office of […]
September 15 , 2011 - Emily Makings
Overpayment of Unemployment Benefits in WA
In a blog post yesterday, the Wall Street Journal (WSJ) reported that the U.S. Department of Labor (DoL) has released data on overpayment of unemployment benefits. As part of a plan to lower these overpayments, DoL will target certain states with high overpayment rates–including Washington. Nearly $19 billion in state unemployment benefits were paid in […]