Democrats: No to carbon tax, yes to capital gains tax

March 28, 2015 at 1:04 pm

House Democrats have abandoned Gov. Jay Inslee’s proposal for a new carbon pollution tax.

  • In this video report, Democrats unveiled their own budget which includes a higher B&O tax on service businesses, and relies on several of Inslee’s ideas such as a tax on capital gains and bottled water.
  • Democrats would use the extra revenue to fund smaller class sizes, cost-of-living adjustments for teachers and state employees, and mental health facilities.
  • Republicans are expected to unveil their budget next week.  Senate Republicans criticized the Democratic budget, questioning the need to increase spending by nearly $1.5 billion.
  • Gov. Inslee says he’s disappointed that the carbon tax has been dropped, but is encouraged by much of the House Democrats’ budget.

 

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