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Washington's Tax Freedom Day arrives April 20, ranking us 9th highest nationally

The Tax Foundation today released its annual Tax Freedom Day report. Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year… In 2013, Americans will pay $2.76 trillion in federal taxes and $1.45 trillion in state taxes, for a total […]

Taxing beer and marijuana

As part of its fiscal impact statement for I-502, the Office of Financial Management estimated that excise taxes and license fees on legalized marijuana would increase state revenues by $434.2 million in FY 2015, $447.2 million in FY 2016, and $460.6 million in FY 2017. Now, as reported by the Seattle Times, Washington’s new marijuana […]

Seattle's job growth comes despite the city's business climate

Seattle Times columnist Danny Westneat calls Seattle’s recent employment boom an “inconvenient truth” undercutting claims that the city’s “taxes and rules and supposedly socialist groupthink” are bad for business. There’s no denying the growth in metro Seattle, but a good case can be made that it’s occuring despite the city’s  business climate, not because of […]

There's nothing like a "temporary tax"… the New York edition

Or so it would seem. Literally. As the governor and some legislators in Olympia consider extending temporary tax increases on business and beer, their counterparts in New York tread the same turf. Gov. Andrew M. Cuomo and legislative leaders are finalizing a surprise deal to extend a high-tax bracket for the state’s top incomes. The […]

Official state revenue forecast comes out at noon today. View with caution.

In my column today I suggest lawmakers take a cautious view of the numbers. The state, national and global economies continue to face substantial risk. A balanced budget is, of course, a priority. But With much risk beyond their control, lawmakers should be cautious in their spending and prudent in maintaining adequate budget reserves. They […]

Handicapping the economy – mixed reviews ahead of the 3/20 state revenue forecast

Kriss has written (here and here) that the next state revenue forecast will likely come in below the November numbers, adding to the budget woes that will dominate the closing weeks of the legislative session. As has been the case through much of this frustrating semi-recovery, expectations continue to be mixed. Economist Mark Perry has […]

Repealing tax preferences is not a cure-all

Andrew Garber reports that Governor Inslee will propose “closing some tax loopholes” to fund education. (He has yet to announce which “loopholes” he’s talking about.) On TVW this morning, the governor said, I was very clear that the way we should move forward to fund our schools and improve our education is rather than from […]

With supermajority for taxes out, what's next?

I take a stab at answering that in my column today. The crux: After 20 years, voters understand how the supermajority requirement works. If they want it in the constitution, they first must elect a Legislature that will place it on the ballot. They should begin by making it an issue in the 2014 campaign. […]

Elway poll shows limited appetite for new transportation funding – the search continues

A new Elway Poll underscores the challenge facing legislators and the broad coalition working to fund essential transportation improvements in the state. The Seattle Times reports: A Stuart Elway poll of 412 registered voters found that 72 percent oppose a higher gas tax and 62 percent oppose an increase in the car tab. The poll has a margin […]

Taxing Tech: Seattle Times op-ed emphasizes benefits of tax incentives

Legislators wanting to exercise their new taxing authority by boosting tech taxes should first read an important commentary in today’s Seattle Times by Susan Sigl and Bryan Mistele. Sigl, head of the Washington Technology Industry Association, and Mistele, founder and CEO of INRIX, remind policymakers of the economic importance of the industry to the state […]