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Seattle council OKs historic $214M a year tax on corporate payrolls
The years-long quest for a progressive tax in Seattle reached a major milestone Monday with the city council passing the Jump Start Seattle plan.
It was approved with an eye toward expanding a similar scheme across the region.
The tax will raise $214.3 million a year to build low-cost housing, support small businesses and fund other programs. It is believed to be the largest tax increase in city history passed without a public vote.
Passage came as federal stimulus money is about to run out with the nation mired in the Covid-19 pandemic. Even before the pandemic, the number of homeless people in King County was increasing.
https://www.bizjournals.com/seattle/news/2020/07/06/seattle-city-council-payroll-tax-corporate.html