Capital Gains Tax Update
OLYMPIA, Wash. - On a vote of 52-to-46, the Washington State House of Representatives has voted to pass a 7-percent tax on capital gains along party lines.
Originally, Republican Bruce Chandler of Granger voted "Yes" for the tax, but after a question was raised, there was a re-vote and Chandler voted "No."
Because the emergency clause, allowing for the public to weigh in through a referendum, was taken out of the House version, the Senate must now concur.
That clause was the reason why the bill passed that chamber by one vote six weeks ago.