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Capital gains tax in Washington state: Is it about fairness and funding, or will it drive away startups?
March 17, 2021 at 1:41 pm
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GeekWire’s civic coverage examines tech policy, urban development, transportation, housing, the environment, regulation, and other issues impacting the innovation economy.
Tech workers, business owners, public policy advocates and private citizens weighed in this week in favor of and against a proposed capital gains tax in Washington state.
A remote hearing of the House Finance Committee attracted 3,900 people, with 2,380 in support of SB 5096. The majority of Monday’s hearing, and the ongoing argument around the legislation, centered around whether the tax is a necessary way to help level the playing field among taxpayers in Washington state, or whether the action amounts to an unconstitutional state income tax that would ultimately drive businesses and entrepreneurs out of state.
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