Friends,
The Senate majority has unveiled a nearly $20 billion tax plan that is nothing short of fantastic, as Merriam-Webster defines it – so extreme as to challenge belief.
Their proposal relies on unstable revenue sources, imposes new business taxes, and hikes property taxes—all while offering a distant and uncertain sales tax cut.
Breaking Down the Numbers
Wealth Tax – $12.2 Billion
A 1% annual tax on intangible assets over $50 million—so unreliable even Governor Ferguson is skeptical.
Payroll Tax – $6.6 Billion
A 5.2% tax on wages above the Social Security cap, making Washington less competitive and potentially driving jobs out of state.
Eliminating Tax Preferences – $1 Billion
Vague details, but history tells us small businesses and essential industries will pay the price.
Property Tax Hikes – No Cap
A radical change that could lead to ever-increasing tax bills, ignoring past public opposition.
Sales Tax Cut? Not So Fast.
A proposed cut from 6.5% to 6%—but not until 2027. And even then, local tax hikes could cancel it out.
What This Means for You
This plan bets Washington’s future on untested taxes and massive hikes, all while families and businesses struggle with rising costs. We need fiscal responsibility, not reckless taxation.
Remember, my caucus colleagues unveiled a budget proposal nearly two weeks ago that demonstrated we could fund critical services for our state’s most vulnerable, increase education funding and teacher pay, invest in law enforcement, preserve our Rainy-Day Fund, and more WITHOUT raising taxes.
