OLYMPIA, Wash. – First-term State Representative Shaun Scott of Seattle recently held a news conference on the steps of the Capitol to propose a new idea aimed at balancing Washington’s budget.
Democratic lawmakers in Olympia are considering establishing new taxes on corporations to address the state’s budget shortfall.
Scott’s legislation aims to generate more than $2 billion annually. The funds would benefit health care, particularly Medicaid, as well as education and human service programs that have seen reduced federal support.
The proposal is modeled after Seattle’s JumpStart tax, which targets companies with high-earning workers and large payrolls. At the press conference, Scott emphasized the need to hold these companies accountable.
“The six largest corporations in Washington states spent $2.1 million lobbying the state legislature earlier and I think I speak for many within my district and outside of it in saying if these corporations were as enthusiastic about paying their taxes as they were about paying to avoid them, there are millions of Washingtonians who would not have to worry about how to pay for higher education, for health care and housing in our state,” Scott said.
The bill, if passed, would take effect on July 1 and create a new fund called the “Well Washington Fund.”
It would affect approximately 4,300 businesses, targeting private employers with workers earning an annual salary of more than $125,000. The plan includes a 5 percent tax on payroll expenses that exceed this benchmark.
Lawmakers are set to return to Olympia for the session on January 12.
