13
Feb
09

Incoming…

Joe Turner over at the News-Tribune is reporting that a perennial state income tax bill might have more legs than ever before. Senator Rosa Franklin (D – 20) is pushing forward Senate Bill 5104, which would put Washington down the income tax path.

According to the bill’s fiscal note, the new tax would raise $6.67 billion in 2012, which is remarkably close to the existing budget gap for the next biennium. We’re not economics experts over here, but it appears to be a graduated approach as well, with a higher burden falling on those with greater income.

Folks have talked about income taxes in the past – notably Ron Sims’ run at the governship, where he used the concept to define him apart from his opponent, Christine Gregoire – but most attempts have been DOA. Could this economy be the springboard that proponents have needed? We’ll be following this closely…

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