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Seattle City Council panel votes to advance big businesses tax

The tax would raise more than $200 million per year and aims at companies with many highly paid employees.

SEATTLE — The Seattle City Council has taken a key step toward adopting a new tax on big businesses. The Seattle Times reports the council voted in a budget committee meeting Wednesday to advance a proposal expected to raise more than $200 million per year.

Just two years ago, the council — under pressure from corporations such as Amazon and the prospect of a voter referendum — repealed a $47 million-per-year big business tax that they had adopted weeks before.

Lead sponsor and Councilmember Teresa Mosqueda says the new tax would would target companies with many highly paid employees, whereas the 2018 "head tax" would have applied to all employees at large companies.

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