Washington Democrats are gearing up for tax hikes, using last month’s failed ballot initiatives as a flimsy excuse to justify their fiscal mismanagement. Despite facing a $10-12 billion deficit, they’ve interpreted the rejection of measures to repeal their carbon credit auctions, capital gains tax, and long-term care tax as voter approval of their tax-and-spend agenda. Senate Majority Leader Jamie Pedersen and House Majority Leader Joe Fitzgibbon seem to think voters are eager for more taxes, with Pedersen floating the idea of a wealth tax on those with $50 million or more. Fitzgibbon doubled down, claiming Washingtonians want “investments” in education, long-term care, and a “sustainable” environment—conveniently ignoring the billions already wasted on those fronts.
Republicans, however, are pushing back. House Minority Caucus Chair Peter Abbarno rightly pointed out the massive funding disparity between anti-initiative and pro-initiative campaigns, with the former outspending the latter by $40 million to $2 million. Meanwhile, Rep. Chris Corry criticized Democrats’ push for taxing unrealized gains, warning it would drive innovators and investors out of the state and hurt the economy long-term. Even the Democrats’ beloved wealth tax, proposed earlier this year as SB 5486, failed to pass the legislature—a clear sign that not everyone shares their appetite for soaking the wealthy.
Democrats are ignoring the real issue: their reckless spending habits. Instead of addressing the root causes of the budget shortfall, they’re doubling down on failed policies and planning to raid taxpayers’ wallets even more. With the 2025 legislative session around the corner, Washington residents can brace for yet another round of creative ways to pay for their government’s financial mess.
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