Tax breaks versus budget cuts as special session approaches

From the San Juan Islander:

SEATTLE – Just as most Washington families are finishing off the Thanksgiving leftovers, state lawmakers will be headed into a special session to trim as much as $2 billion from the state budget.

The special session starts a week from today.

Most of the budget gap, says Marilyn Watkins, policy director at the Economic Opportunity Institute, could be paid for by repealing tax breaks such as the one the state provides to banks for profits they make on home mortgages.

“There’s absolutely no evidence that, that tax break has done any good for consumers in Washington or homeowners in Washington state. The only benefit is to banks who have gotten their big bailout and are doing quite well now.”

Read more »

  • Leave a Reply

Your email address will not be published. Required fields are marked *

More To Read

October 17, 2018

We’re Number 1!

For at least 22 years, Washington has had the highest taxes on lower-income people.

October 16, 2018

I’m Going to Tip Minority Servers More – and Whites Less

Racism and discrimination translate to lower tips for people of color

October 12, 2018

The Unemployment Rate Isn’t All That Matters

“Slack” is why wages are low even when unemployment is down