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March 28, 2017

State House budget: $3B in new revenue

  • The proposal includes a B&O tax increase on high grossing businesses and a new 7% capital gains tax.
    • By RACHEL LA CORTE
    Associated Press

    OLYMPIA — House Democrats on Monday released a two-year budget plan that proposes $3 billion in additional revenue — including a tax increase on some businesses and a new capital gains tax — to address a court mandate on education funding.

    However, Democrats said while they plan to pass their spending plan on the House floor Friday, they won't likely take a vote in that chamber on any of the tax bills that pay for it before completing negotiations with Senate Republicans, who passed their own budget plan last week.


     
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