Governor Inslee released his 2019-21 biennial operating budget proposal a month before the legislative session began. His proposed budget makes significant investments in behavioral health, K-12 education, higher education, early learning, reducing homelessness, and environmental protections – particularly protecting our endangered orca population and addressing climate change.

Using existing revenue sources, the Governor’s proposed budget would have a deficit between $3 and $4 billion, which includes the $1.1 billion deficit projected if the state made no additional investments this year (see graph below). In order to resolve the deficit without making deep cuts to essential services, the Governor’s budget proposal includes possible new revenue sources.

I’d like to know how much you agree or disagree with the Governor's revenue ideas. The amount of revenue for the first two years is indicated at the end of each option.

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* 1. Requiring the wealthiest Washingtonians to pay a 9% excise tax on capital gains (profit made on the sale of stocks, bonds, etc.). Exemptions would include residential real estate, retirement accounts, farms, forestry, and any single filing under $25,000 or joint filing under $50,000. / $2.095 Billion

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* 2. Transitioning to a graduated Real Estate Excise Tax with the following thresholds: lowered rates (0.75%) for sales less than $250K; the current rate (1.28%) for sales between $250K and $1M; 2% rate for sales between $1M and $5M; and 2.5% rate for sales over $5M. / $402 Million

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* 3. Increasing the Business and Occupation tax rate by 1 percent on lawyers, lobbyists, accountants and other “professional service providers.” / $2.6 Billion

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* 4. Modifying current Washington tax law to reflect the recent U.S. Supreme Court decision, allowing online sales tax to be collected on purchases from businesses physically located outside of Washington. / $120 Million

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* 5. None of the above. Instead of increasing revenue, slash state-run programs and services. This would mean a mixture of not making all of the investments in the Governor's proposed budget and making significant cuts to things like mental health and substance abuse services, programs and assistance for those experiencing homelessness, childcare and early learning programs, healthcare for low-income families, food assistance, foster care, higher education, environmental protections and oversight, and more.

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* 6. Share any other ideas on the best approach to fund essential state services:

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* 7. Your responses are anonymous, so if you'd like a personal reply:
a. Send me an email; or
b. Leave your name and phone number (optional)

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