Seattle’s Slumping Revenue Reignites Debate Over Taxing the Rich
(The Center Square) – Seattle officials are weighing new progressive taxes as debate swirls over whether they would help or hurt the city’s already slumping revenue streams. On April 16, Seattle City Councilmember Alexis Mercedes Rinck announced that she is exploring progressive taxes that would make the city’s wealthiest residents pay more amid an anticipated $241.5 million drop in revenue over the next two years. The city previously closed a $250 million general fund gap for 2025-2026 using staffing cuts and its payroll tax.
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Show Notes
(The Center Square) – Seattle officials are weighing new progressive taxes as debate swirls over whether they would help or hurt the city’s already slumping revenue streams. On April 16, Seattle City Councilmember Alexis Mercedes Rinck announced that she is exploring progressive taxes that would make the city’s wealthiest residents pay more amid an anticipated $241.5 million drop in revenue over the next two years. The city previously closed a $250 million general fund gap for 2025-2026 using staffing cuts and its payroll tax.
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Read more: https://www.thecentersquare.com/washington/article_da9f2a3b-505f-4bf8-92ef-ffcff72b6bd5.html
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