Published: Saturday, February 11, 2012
State Senate passes bill to rein in tax breaks
OLYMPIA -- The Washington state Senate has passed a bill to rein in future tax breaks granted by the Legislature.
Approved by a 45-3 margin Saturday, the measure would put five-year sunsets on all new and extended tax breaks unless otherwise specified.
It would also require the Legislature to explain what the tax break is intended to achieve.
There are over 600 tax breaks in Washington's books, most of which have no expiration date.
A separate, more ambitious effort in the House to phase out 251 existing tax breaks amounting to nearly $2 billion and subject them to a review remains in committee and faces an uphill battle to get a floor vote.
The Senate bill, sponsored by Sen. Craig Pridemore, D-Vancouver, goes to the House next.
Approved by a 45-3 margin Saturday, the measure would put five-year sunsets on all new and extended tax breaks unless otherwise specified.
It would also require the Legislature to explain what the tax break is intended to achieve.
There are over 600 tax breaks in Washington's books, most of which have no expiration date.
A separate, more ambitious effort in the House to phase out 251 existing tax breaks amounting to nearly $2 billion and subject them to a review remains in committee and faces an uphill battle to get a floor vote.
The Senate bill, sponsored by Sen. Craig Pridemore, D-Vancouver, goes to the House next.
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