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December 24, 2024

Inslee budget: wealth tax, B&O increase

By JOURNAL STAFF

OLYMPIA — Washington state Gov. Jay Inslee last week released his proposed $79.4 billion budget for 2025–2027, one of the final acts of his three terms in office.

The budget proposes a combination of revenue increases and cuts to balance the budget, including increasing the Business and Occupation tax rate, and taxing personal wealth over $100 million at 1% per year.


 
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