April 8, 2019
AWB
   
Fast Facts
Bringing Business Up to Speed
Other News

Rural jobs bill still alive in state Senate; support for rural Opportunity Zones remains strong throughout the country

Opportunity Washington this week picked up on a report from Stateline that shows 17 states are considering opportunity zone bills in their state legislatures. The report includes this state by state summary, and quotes Washington’s state Rep. Mike Chapman, D-Port Angeles.

“We don’t have a lack of construction work in this state, so it’s not like we need to build more buildings,” Chapman said. “We need jobs in rural counties that are living wage jobs where people can consistently receive a paycheck.”

Chapman and Rep. Jacquelin Maycumber, R-Republic, have sponsored House Bill 1324, which creates new incentives for companies to invest in newly-created federal Opportunity Zones.

The bill has passed the House unanimously and is currently in the Senate Ways and Means Committee.

Investors in newly-created Rural Development and Opportunity Zone Funds would be eligible for tax credits to offset state taxes and insurance premiums.



« Back to Main
Spring Meeting
Practical Education


Expand career-connected learning across Washington state

By Maud Daudon

If you're a Washington business owner or manager wondering where to find skilled workers, you're not alone. And if you're a Washington parent or high school student, wondering how to get from school to a great job, you're not alone either.

You may also be the solution to each other's problem.

Last summer, the Career Connect Washington initiative convened groups of parents to discuss education and career preparation in Washington state. As part of a 10-year effort, we are learning how to better help students connect to both jobs and advanced education so they will be well positioned to step into the state's job market. Business, labor and education organizations are all stepping up; we need the Legislature to act as well...

Read the full guest column in The Seattle Times
Fiscally Unwise


A Capital Gains Tax Would Not Improve Budget Sustainability

By The Washington Research Council

Although the March revenue forecast increased estimated state revenues for the 2017-19 and 2019-21 biennia, the House Appropriations Committee Chair proposed a new capital gains tax along with his 2019-21 operating budget. The Senate is also considering a capital gains tax, although in this case the proceeds would be used to reduce other taxes rather than to increase the operating budget.

A capital gains tax would be highly volatile. Taxpayers can arrange their affairs to avoid them, and the value of capital gains realized by Washington taxpayers varies significantly year to year. Also, swings in capital gains are much bigger in percentage terms than swings in state sales tax revenue. Volatile taxes require stronger reserves to manage downturns, but the House bill would avoid constitutionally-required transfers to the rainy day fund by directing revenues from the tax to the education legacy trust account.

Additionally, a capital gains tax would certainly be challenged as an unconstitutional income tax. Even if it were eventually found to be constitutional, a court case would likely mean that any revenues would be suspended until after 2019-21. Building the budget around such a tax would be risky at best...

Read the full report from the Washington Research Council
Upcoming Events
«

Jul

»
SMTWTFS
 123456
79111213
14151617181920
21222324252627
28293031123

«

Aug

»
SMTWTFS
    123
45678910
11121314151617
1821222324
25262728293031