Lawmaker proposes capital gains tax to help fund education

Ed Murray

Credit: KING 5 News

State Sen. Ed Murray announces that he is exploring a bid for Seattle mayor in 2013.

Print
Email
|

by KING 5 News

KING5.com

Posted on January 25, 2013 at 4:58 PM

Updated Friday, Jan 25 at 5:00 PM

OLYMPIA, WASH -- The head of the Washington State Senate Democrats says a capital gains tax could pump hundreds of millions of dollars into education.

Sen Ed Murray of Seattle says he would like to see voters approve the tax along with a package of reforms supported by a Republican-leaning coalition in the Senate.  

Senate Republicans say the state needs to focus on having government live with the revune it already has.

Murray's proposal adds a 5 percent excise tax on capital gains.  It would exempt the first $10,000 in gains for individuals, Murray says a small fraction of the voters would be impacted by the tax.

 

 

 

 

Print
Email
|