Graduated Real Estate Excise Tax Would Be Volatile
The 2019-21 operating budgets passed by the House and the Senate both assume more revenue than is forecasted to be available from current sources. In both cases, budget writers suggest that part of the gap be filled by replacing the current flat rate (1.28 percent) Real Estate Excise Tax (REET) with a graduated rate structure. […]
April 18 , 2019 - WRC
New policy brief: House- and Senate-Passed Operating Budgets Would Increase Taxes to Pay for Billions in New Policy Spending
State revenues from current sources are estimated to reach $50.555 billion in 2019–21, enough to cover the 2019–21 maintenance level (the cost of continuing current services). On top of the maintenance level, the House has passed a 2019–21 operating budget that would increase appropriations by $2.421 billion from funds subject to the outlook and the […]
April 05 , 2019 - WRC
New brief: A Capital Gains Tax Would Not Improve Budget Sustainability
Although the March revenue forecast increased estimated state revenues for the 2017–19 and 2019–21 biennia, the House Appropriations Committee Chair proposed a new capital gains tax along with his 2019–21 operating budget. The Senate is also considering a capital gains tax, although in this case the proceeds would be used to reduce other taxes rather […]
April 04 , 2019 - Emily Makings
No, Washington does not forego $50 billion in revenue due to tax preferences
The text of the Senate capital gains proposal has finally been posted. Part VI of the bill would reauthorize the tax structure work group. (The work group was originally authorized in the 2017–19 budget and made recommendations to the Legislature in December; HB 2157 would also reauthorize it.) In discussing the reasons for doing so, […]
March 29 , 2019 - Emily Makings
Senate Ways and Means Committee Chair’s 2019–21 operating budget proposal would increase spending by $7.5 billion
Today the Senate Ways and Means Committee Chair proposed a 2019–21 operating budget that would appropriate $52.172 billion from funds subject to the outlook (NGFO). This is an increase of $7.5 billion over enacted 2017–19 appropriations. It is $687.9 million less than the budget proposal that was passed by the House Appropriations Committee on Wednesday. […]
March 27 , 2019 - WRC
New policy brief: House Appropriations Chair’s Proposed Operating Budget Would Increase Spending by $8 Billion
The House Appropriations Committee Chair has proposed a 2019–21 operating budget that would appropriate $52.811 billion from funds subject to the outlook (NGFO). This is an increase of $8.150 billion (18.2 percent) over 2017–19 appropriations. This increase would be the largest in at least 25 years, after a 17.9 percent increase in 2005–07 and a […]
March 25 , 2019 - Emily Makings
House Appropriations Chair proposes a 2019–21 budget that would increase spending by $8 billion
The House Appropriations Chair has proposed a 2019–21 operating budget that would appropriate $52.811 billion from funds subject to the outlook (NGFO). That’s a 18.2 percent increase over enacted 2017–19 appropriations. Of the $8.150 billion increase, $5.834 billion is maintenance level (the cost of continuing current services) and $2.316 billion is from new policies. Revenues […]
March 22 , 2019 - Emily Makings
U.S. Supreme Court decides against state of Washington in tribal tax case
In Washington State Department of Licensing v. Cougar Den, Inc., the U.S. Supreme Court on Tuesday affirmed the Washington Supreme Court. In 2017, the state Supreme Court ruled that a fuel distributor owned by a member of the Yakama Nation does not have to pay state fuel taxes on fuel it transports from Oregon to […]
March 19 , 2019 - Emily Makings
Budgets (including revenue packages) will be proposed next week
Today’s media availability with Senate and House Democratic leaders focused on the upcoming budget process. House Majority Leader Pat Sullivan said that the House is planning to release its 2019-21 operating budget proposal on Monday, and he expects it will be passed by the House by the end of next week. Senator Marko Liias said […]
March 12 , 2019 - Emily Makings
Washington’s tax structure brings in considerable revenues
Last week, a KUOW story claimed that Washington’s tax structure “means Washington taxes are low compared to other states, on average. States that tax people based on income bring in higher revenues.” This is just not the case. As we showed in a recent report, Washington’s state and local taxes per capita were $5,050 in […]