Budget shortfall should be balanced by ending tax breaks and raising revenue
In response to Governor Gregoire’s report on the devastation expected from another $2 billion in state budget cuts, members of the Our Economic Future coalition are asking lawmakers to stand up for Washington families by ending unfair tax breaks for corporations and raising revenue.
Washington’s legislature has already cut $10 billion from education, health care and other essential services. Look around your neighborhood at your schools, hospitals, libraries, clinics and food banks and you’ll see the effects of these cuts. Ask your neighbors about access to health care or affordability of college, and you’ll see how these cuts are hurting our families.
Now the legislature wants to cut another $1.4 billion. It’s time to tell them that enough is enough–new revenue has to be part of the solution.
Here are some of the choices facing legislators. Do we want to cut programs or end unnecessary tax breaks?
|
Reduce Home Care for Seniors and Persons With Disabilities = $76.2 Million |
OR | Eliminate Sales Tax Exemption for Non-Organic Fertilizer = $83.7 Million |
| Eliminate Extra Class Size Reduction Funds for K-4 classes = $216 Million | OR |
Eliminate Sales Tax Exemption for Financial Services, Insurance, and Real Estate Fees and Commissions = $401 Million |
| Reduce Basic Health Plan = $246.2 Million (Cuts healthcare coverage for 69,000 low-income, working adults) |
OR |
Eliminate B&O Tax Exemption on First Mortgage Income for Wall Street Banks = $87 Million (Exempts Washington-based banks by not taxing first $100 Million in bank revenues) and Eliminate Sales Tax Exemption for Personal and Entertainment Services = $203 Million |
