Yesterday the House Democrats released their proposed supplemental budget. At the time of our post, the tax increases assumed by the budget were not fully identified. They are now. The chart below is from the funding package document.
The Washington Research Council points out that most of these proposals have been floated before. Gov. Inslee’s proposed supplemental included a few of them.
His plan would raise about $101 million in the next fiscal year by making the following tax and revenue changes effective July 1, 2016:
- Repeal the use tax exemption for extracted fuel.
- Refund the state portion of sales tax to nonresidents.
- Repeal the sales tax exemption on bottled water.
- Limit the real estate excise tax exemption for banks.