The new tax package proposed by House and Senate Democrats this week includes five proposals to increase revenue. These and two other major tax bills are scheduled for executive session in the Senate Ways & Means Committee tomorrow. All would make the list of the state’s largest tax increases.

They include:

• SB 5815/HB 2081, which would increase business and occupation taxes. (I wrote about these bills here.)
• SB 5814/HB 2083, which would expand the sales tax to more services and require a tax prepayment. (I wrote about these bills here.)
• SB 5812/HB 2049, which would increase the property tax growth limit.
• SB 5813/HB 2082, which would increase the capital gains and estate tax rates. (I wrote about these bills here.)
• SB 5794/HB 2084, which would repeal various tax preferences.
• SB 5811/HB 2077, which would tax zero-emission vehicle program surpluses.
• SB 5797, the wealth tax.

The table shows the estimated revenue impacts of these bills. Excluding the wealth tax, the six bills would increase state revenues (to all accounts, not just funds subject to the outlook) by $13.4 billion over four years. This is roughly the amount of new revenues assumed in the House-passed budget.

As the chart shows, the wealth tax and B&O tax proposals would be the state’s largest tax increases, going back more than 30 years at least. (This year’s proposals are in blue.) The sales tax proposal would be just behind the 2017 property tax increase (the current largest tax increase). All seven of the proposals would make the list.