Washington Legislature approves capital gains tax
Updated 8:37 AM;
OLYMPIA A new capital gains tax on high-profit stocks, bonds and other assets was approved Sunday by the Washington Legislature and now heads to Gov. Jay Inslee for his signature.
Once signed into law, the measure is certain to face a legal challenge from opponents who say the measure is a tax on income that violates the state constitution.
The measure narrowly passed the Democratic-led Senate on a 25-24 vote Sunday afternoon, following a 52-44 vote Saturday night in the House.
“This is a step towards asking those who can pay a little more in taxes to do that for the sake of all Washingtonians, for the sake of creating a safer and healthier future for our state,” said Democratic Sen. June Robinson.
Washington Legislature approves new capital gains tax
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Legislature OKs plan to overhaul state s approach to drugs
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Washington Legislature approves new capital gains tax
RACHEL LA CORTE, Associated Press
April 25, 2021
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Daffodils bloom outside the Legislative Building, Wednesday, April 21, 2021, at the Capitol in Olympia, Wash. On Wednesday, lawmakers were considering a proposed new tax in Washington state on capital gains that would be imposed on the sale of stocks and bonds in excess of $250,000.Ted S. Warren/AP
OLYMPIA, Wash. (AP) A new capital gains tax on high-profit stocks, bonds and other assets was approved Sunday by the Washington Legislature and now heads to Gov. Jay Inslee for his signature.
Once signed into law, the measure is certain to face a legal challenge from opponents who say the measure is a tax on income that violates the state constitution.
WA Legislature OKs plan to overhaul state s approach to drugs
GENE JOHNSON and RACHEL LA CORTE
Associated Press
OLYMPIA (AP) The Washington Legislature on Saturday approved an overhaul of the state s approach to drug possession after the Washington Supreme Court struck down its previous law as unconstitutional a ruling that left no prohibition on having small amounts of drugs, even for kids.
The Democratic-led Senate voted on a mostly party line 26-23 vote and concurred with changes made in the House, sending the measure to the desk of Gov. Jay Inslee.
Senate Republicans decried the changes made in the House, which reclassify possession of controlled substances, including cocaine, heroin and methamphetamine, from the gross misdemeanor punishable by up to a year in jail that previously passed the Senate down to a misdemeanor punishable by up to 90 days in jail. The previous law, before being struck down by the court, had made it a felony.