With reporting by Seattle City Council Insight
Taking a route closer to the middle ground on bridging Seattle’s coming COVID-19 crisis revenue gap, the Seattle City Council approved “progressive revenue bill” CB 119810 out of committee Wednesday, that will create a new tax on the city’s largest businesses that could generate more than $200 million a year for city services.
“Today we voted on a major structural change in how we finance public services,” South Seattle rep and co-sponsor Tammy Morales said about the passage. “Throughout this renewed budget conversation, I voiced my strong desire to see a sizable progressive revenue package that begins to address the enormity of the issues our city faces.”
The proposal will create a payroll expense tax on businesses located in Seattle with more than $7 million in gross payroll on “high income earning employees.” Continue reading