Policies that contribute to expanded economic opportunity will help extend the run of good economic news in our state. Our 2017 foundation report updated our agenda with specific recommendations in our priority areas of ACHIEVE (education), CONNECT (transportation) and EMPLOY (economic vitality).
To promote economic vitality, we recommended tax policies that encourage private sector investment. Last year, lawmakers advanced that ideal by passing a reduction in the business and occupation tax rate for manufacturers. Although passed with bipartisan support as part of the budget agreement reached at the end of the session, the tax relief was vetoed by the governor.
Several bills have been introduced this session to reinstate the tax relief lawmakers supported less than a year ago. The Association of Washington Business writes that the vetoed
…tax relief would have helped roughly 10,000 small- and medium-sized manufacturers invest in their businesses and employees and create jobs.
What do you think? Should lawmakers adopt manufacturing tax relief this session? Let us know by taking our survey below: