House Democrats release revised state budget plan
OLYMPIA, Wash. (AP) — As a second special legislative session starts its first full week in Washington state, House Democrats released their latest state budget proposal and negotiations with the Republican Senate moved to the governor’s office.
The plan that was released Monday has hundreds of millions of dollars less in spending than Democrats’ original offer, but still relies on a capital gains tax to pay for additional education spending. The proposal comes days after the Senate released its own revised offer as budget negotiations moved lawmakers into a second overtime session.
The new House proposal doesn’t include closing several tax exemptions that were part of earlier negotiations. Remaining though, is the state tax on the sale of stocks, bonds and other assets that would raise $570 million for the last year of the 2015-17 state operating budget.