Washington State lawmakers are on a mission to fill a massive budget hole, and their solution? Taxes—lots of them. From targeting the ultra-wealthy to considering fees on your junk hoarding place, no stone is left unturned.
Here are Five Fast Facts on new taxes and laws for Washington State:
- 🚬 Carbon Tax on Cigs - Washington wants to tax cigarettes based on their carbon emissions. The state also aims to ban flavored tobacco products. So, if you were hoping for a cherry-flavored cigar or a minty vape, you'll have to stick to the classic "ashtray" flavor. These proposals are expected to generate revenue, but they might just push sales underground. With higher taxes and bans, Washington might become a hotspot for tobacco smuggling. Who knew the next big heist movie would be about menthol cigarettes?
- 💸 Wealth Tax Woes - Lawmakers propose taxing individuals with assets over $50 million. So, if you're not a millionaire, breathe easy—for now. There's also talk of increasing the capital gains tax from 7% to 9% for gains over $1 million. Because what's a few more percentage points between friends?
- 📦 Storage Unit Surcharge - For all of us non-rich folks, watch out for your storage unit! Another proposed tax could make storing your old junk more expensive.
- 👮 Dreamers in Uniform - The state wants to let DACA recipients join the police and fire departments, because who better to protect the community than non-citizens? The bill has already passed the state Senate with support from both Republicans and Democrats; next stop: the House. It's like a reality show, but with more paperwork and fewer roses.
- 😰 Legislative Limbo - With a looming deadline, lawmakers are scrambling to finalize the budget, with all the right proposals included. It's like a high-stakes game of Monopoly, but with real consequences.
🔥Bottom line: Washington's budget crisis has turned into a taxapalooza, with proposals affecting everyone from billionaires to storage unit renters. As lawmakers race against the clock, residents can only hope that the final decisions won't empty their pockets—or their storage units.
Which of these taxes or proposals do you think should become law?
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