Inslee proposes carbon, capital gains taxes for education - Spokane, North Idaho News & Weather KHQ.com

Inslee proposes carbon, capital gains taxes for education

Posted: Updated:
TACOMA, Wash. -

Gov. Jay Inslee is proposing that the state spend $2.7 billion over the next two years to increase salaries for teachers and to fully fund the state's basic education obligations as a court deadline looms.
    
In his proposal released Tuesday, Inslee seeks more than $4 billion in new revenue, with a majority of it - about $3.9 billion - dedicated to education-related costs.
    
The new revenue he seeks includes:
    
-An increase in the business and occupation tax on services provided by accountants.
    
-A carbon tax that would charge the state's emitters $25 per metric ton starting in 2018, raising $2 billion, of which $1 billion would go toward the education plan
    
-A 7.9 percent capital gains tax on earnings from the sale of stocks, bonds and other assets above $25,000 for individuals and $50,000 for those who file jointly.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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