QUICK SUMMARY
Washington lawmakers race against a Sunday budget deadline, having passed tax increases on capital gains and estate taxes. Governor Bob Ferguson supports minimizing impacts on working people while advocating for sustainable revenue sources. A House committee is expected to vote on the tax package Tuesday.
Washington lawmakers strive to pass a balanced budget before the Sunday deadline, having made significant headway by approving tax increases on capital gains and estate taxes. Governor Bob Ferguson expresses concern over the impact on working individuals but acknowledges progress toward a sustainable revenue package. The Senate's tax proposals aim to close a multi-billion-dollar deficit while removing certain tax preferences and extending sales tax to previously exempt services. A House committee plans to vote on the tax package Tuesday, with Democratic senators advocating for new revenue to support essential state services. Senators like Noel Frame emphasize the need to modernize the tax code to maintain funding for public schools and healthcare. Meanwhile, Republicans, including Senate Minority Leader John Braun, argue that such tax increases will ultimately harm the economy by discouraging investment. Ferguson has criticized some proposals as unsustainable but remains optimistic about reaching a budget he can sign. He indicated that if additional time is needed to finalize the budget, the public would likely understand.