Tax debate hangs heavy over approaching Washington legislative session
Washington Democrats are preparing for a legislative session where new taxes will be a major focus to solve a multi-billion dollar state budget hole.
House Speaker Laurie Jinkins, D-Tacoma, and Senate Majority Leader Jamie Pedersen, D-Seattle, told the Standard last week that they haven’t settled on which tax legislation might be prioritized, but many ideas revolve around taxing wealthy people and companies.
The leaders say they want to “scrub” the budget for savings first. But they face a gap of around $12 billion or more between the state’s expected income and expenses over the next four years. This means new revenue will likely be necessary to maintain and expand Democrats’ priority programs in areas like education, housing and mental health care.
“We are trying to be as transparent as possible about the fact that this is not likely a budget shortfall that can be solved with cuts alone,” Pedersen said. “We are trying to get ideas out on the table soon, so we can have a discussion about them and try to figure out collectively what’s the best path forward for the state.”
https://washingtonstatestandard.com/2025/01/02/tax-debate-hangs-heavy-over-approaching-washington-legislative-session/