Seattle City Council sends big business tax bid to committee
SEATTLE (AP) — The Seattle City Council has again decided to consider a tax on large businesses, this time while contending with fallout from the coronavirus.
The council voted unanimously Monday to review legislation proposed by Councilwomen Kshama Sawant and Tammy Morales that would impose a 1.3% payroll tax on most companies with over $7 million in annual payroll, excluding grocery businesses and some other entities.
Since last year’s council elections, Sawant, Mayor Jenny Durkan and other members of the council have been looking at a tax on large corporations, The Seattle Times reported.
Sawant and Morales have said their proposed tax could raise as much as $500 million a year. They have called for Seattle to spend $200 million this year on coronavirus relief payments to vulnerable families and for the tax to subsequently pay for rent-controlled housing and Green New Deal programs.
https://www.msn.com/en-us/money/markets/seattle-city-council-sends-big-business-tax-bid-to-committee/ar-BB12hWln
