Washington State: Build Homes, Not Taxes
Seattle News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Washington state leaders consider a new income tax, but a report suggests boosting home construction to generate revenue and address the housing shortage. Building 20,000 homes annually could yield $603 million in state taxes, nearly a quarter of the proposed income taxs potential first-year collection. Builders fear the tax could drive companies out of state, impacting steady tax income from construction. With housing permits down 48% from their 2021 peak and median home prices soaring, easing building rules could increase supply, lower costs, and fill government coffers without new taxes.
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