Washington's Treasurer released a proposal to fund K-12 education for the approval of the Legislature’s Education Funding Task Force.

The plan would create a fix to the State Supreme Court’s McCleary decision. He also stated in a press release it will  addresses the fundamental unfairness of the state tax system.

Including in the proposal is eliminating the state property tax, limiting local school levies and cutting the state sales tax rate from 6.5 to 5.5 percent. But on the flip side, the proposal will add a 5% flat rate income tax.

Families of four with $50,000-a-year incomes would be exempt.

“Our tax system is the most regressive in the nation,” McIntire said. “Low income households and businesses carry too much of the tax burden in our state. For several decades, our tax revenues have been growing, but not as fast as our economy and the demand for education. As a result, the Legislature has shifted more and more of the tax burden to local school levies. We need a comprehensive funding plan to address the education needs that our voters and the Legislature passed into law, the constitution requires, and the state Supreme Court has ordered.”

 

For more information visit the Office of the State Treasurer’s website at www.tre.wa.gov

More From 610 KONA