Washington House Democrats Say ‘Yes’ To Capital Gains Tax, ‘No’ To Cap-And-Trade- NW News Network

I don’t know if the Republicans will support this, but I view it as a positive approach to raising taxes. I agree that Cap and Trade does not seem to be an effective way to solve the problem, from the solutions I’ve seen. I’d rather see the state raise the money by taxing the capital gains of people who primarily end up playing the markets. It’s not much, and only affects the wealthiest of the State. It will help fund what we need in this state. With an ever growing population that demands more services from government, that seems fair to me.

Majority Democrats in the Washington state House have unveiled a proposed two-year, nearly $39 billion state budget and tax package. They embraced Governor Jay Inslee’s push for a state capital gains tax, but they’re not biting on the Democratic governor’s cap-and-trade proposal. The capital gains proposal House Democrats offered was slimmed down a bit — a five percent tax rate instead of the governor’s seven percent. Austin Jenkins reports. (NW News Network)


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