Dear friends and neighbors,
As I mentioned in my previous newsletter, 48th District residents and business owners will have the opportunity next week to share ideas on how to rebalance and modernize our tax code.
Over the past two years, the Tax Structure Work Group conducted robust economic analysis and held initial listening sessions to find out how the Legislature can create a more equitable, transparent, and stable tax code for working families and small businesses.
Now, the work group is inviting taxpayers to explore several scenarios to change the state’s tax structure and wants to hear from you!
Join a 90-minute interactive online Tax Town Hall on Wednesday, November 3, at 2:30 p.m. or 6:30 p.m. with other South/East Puget Sound residents.
Click here to register for the 2:30 p.m. session.
Click here to register for the 6:30 p.m. session.
Lean more about the Tax Structure Work Group at taxworkgroup.org.
Why do we need change?
In a nutshell, because Washington’s tax system is the most upside down and regressive in the nation. The state’s lowest-income residents pay six times more in taxes, as a share of their income, than the state’s highest income households, which is unconscionable and unsustainable.
Additionally, we’ve heard for years that the business and occupation tax (B&O) is deeply problematic, particularly for our small, start-up and low-margin businesses, because it taxes gross revenue rather than net profit. A comprehensive rebalancing and modernization of our tax code is critical to ensuring an equitable and lasting economic recovery for people who live, work, and open small businesses here.
I hope you’ll take this great opportunity next week to share your thoughts on how the state can better provide vital state services like schools and public health through an improved tax code.