Tax relief critical as higher prices crush working families
Republican leaders say Inslee is wrong — tax relief is sustainable, deserved
OLYMPIA…Legislative Republican leaders released the following statement in response to a report from the U.S. Bureau of Labor & Statistics that inflation in the United States has risen to 7%, increasing at the fastest rate in 40 years.
Inflation in Washington is at 7.6% – surpassing the national average. Republicans believe Democrat policies have made life less affordable in Washington. Families across our state are getting crushed by higher prices for housing, gas, groceries and other necessities. And Republicans have made returning affordability to our cost of living one of their top priorities for Washington in 2022.
“While many people continue to struggle, the Legislature has a large budget surplus and an opportunity to help those who need it the most. Other states such as New York, Colorado and Maryland are giving their residents tax relief. They recognize the need. The fact that our governor does not is very frustrating.
“The governor claims we can’t provide the people of Washington with tax relief because that would be an ongoing expense and our surplus is ‘one-time money.’ This is misleading and ironic, since the governor’s own budget is packed full of ongoing spending above and beyond what is normally included during a year when we only tweak the budget. Only a fraction of our surplus is one-time money from the federal government. The rest is projected over the course of years – years during which we could be giving the people some of their own money back. That’s what they need right now. More of their own money in their pockets.
“There are different ways to alleviate consumer inflation and ease financial burdens on Washingtonians. State lawmakers could provide property tax relief, expand the working families tax credit and eliminate the income tax on capital gains, which is expected to eventually grow into a full state income tax. We could also reduce or eliminate the tax rate for manufacturing, which would lower prices and create more family-wage jobs. And, the Legislature could repeal the regressive long-term care payroll tax that will eventually reach Washington workers, likely at a higher rate than originally thought.
“These are not just ideas; they are actual bills introduced by Republicans in the Legislature – real solutions for real people.”
- SB 5769 – Tax Reform & Relief Act of 2022 (L. Wilson)
- SJR 8206 (L. Wilson)
- SB 5696 (Braun)
- SB 5234 (Padden)
- SB 5503 (Schoesler)
Read more about the Tax Reform & Relief Act of 2022 (SB 5769). Members of both the House and Senate Republican caucuses plan to drop additional tax-relief legislation soon.