Washington Policy On The Go is WPC’s bi-weekly (weekly during the legislative session) virtual lunchtime event series featuring center directors and guests to inform you on the latest in Washington State policy research and analysis. In this video, Tax & Budget Director Ryan Frost talks about the income tax bill that just surfaced today, and why it would be such a harmful policy for Washington state.
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00:00 – Introduction
00:30 – What’s missing: no meaningful tax relief
02:13 – Who gets hit “right now” and why thresholds won’t hold
02:51 – Rate and what counts as income
03:12 – Business impact and how it applies to business income
04:46 – Revenue estimates vs ongoing deficits
06:30 – Real estate / REET credit question
07:04 – B&O double-tax concern + credit limits
07:29 – Repeal mechanics and constitutional challenge
12:02 – “Accountability” for taxes/spending + business flight argument
14:00 – Residency/nonresident issues + NIL/athlete income mention
14:59 – Capital gains rate change context + thresholds can drop
16:30 – “Fungible” deals
19:35 – Effective date + when people would pay
21:43 – Admin/fiscal note + hearing timeline
29:14 – What taxpayers can do + Take Action page mention
39:40 – Where the money goes
SB 6346, to create a state income tax: https://app.leg.wa.gov/billsummary/?BillNumber=6346&Year=2025
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