Tax & Fiscal

I was asked: Do you think the State is collecting adequate revenue to fund essential government services? What role does Washington State’s tax policies, including major structural tax incentives for key industries, play in sustaining a competitive business climate in Washington? Washington State’s general fund relies on three major categories of tax revenue: sales tax, property tax, and business and occupation tax. Do you think our tax structure needs fundamental reform, and if so, should that reform include new major categories of taxation or new sources revenue? If so, what kind? Would you support a waiver on B&O tax for manufacturers of medical equipment or pharmaceuticals in Washington State?

My Response

The Washington State tax policies are sound, and taxes are too high. We do not need a new tax funding source. I oppose a state income tax, or a state capital gains tax. The B&O tax is significant and is a major source of revenue from the business community. As a professional engineering consultant, I paid the highest B&O tax rate for 37 years at 1.5% of gross revenues. There are hundreds of rates designed for various industries, some of them fair and some not so fair. I will find an appropriate rate for the medical equipment manufacturers and pharmaceuticals industry.

One tax reform I support is indexing the gas tax to inflation in some manner.

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