by Nathalie Graham • Feb 10, 2021 at 9:45 am
We could have clean refineries!!! KEVIN SCHAFER VIA GETTY IMAGES
The low carbon fuel standard (LCFS) bill, HB 1091, could be headed to the House floor in a couple weeks.
On Tuesday the bill cleared the House Appropriations Committee by a narrow margin, with 17 members voting aye and 16 voting naw. The vote largely fell along party lines, though Kirkland s road-loving Larry Springer voted no, and House Majority Leader Pat Sullivan (D-Covington) voted no without recommendation.
Regardless of the narrow vote margin, this development could be a positive sign for Washington s economy.
If passed, the LCFS will limit gas and diesel emissions to 10% below 2017 levels by 2028 and 20% by 2035. The law would also create a credit system where big emitters could buy credits from small emitters to offset carbon-intense emissions. In other words, it would become less sexy and more expensive to spew car
Washington state lawmakers target Bill Gates, Jeff Bezos, and other billionaires with wealth tax
January 27, 2021 at 8:01 pm
Bill Gates, left, and Jeff Bezos. (GeekWire, Economic Club Photos)
A new proposed wealth tax in Washington state would impose a 1% tax on billionaires, affecting Seattle-area tech and business leaders such as Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates, and about 100 other ultra-wealthy residents.
House Bill 1406 would produce an estimated $2.25 billion in 2023 and $2.5 billion in 2024, according to Rep. Noel Frame (D-Seattle), chair of the state’s House Finance Committee who introduced the bill Wednesday with House Majority Leader Pat Sullivan (D-Covington).
In an interview with GeekWire, Frame said the intent of the wealth tax is part of a larger effort to help to restructure the tax code in Washington state, which she described as the most regressive in the nation. Washington is also among nine states that do not have income taxes.