Building an economy that works. For everyone.
Budget cuts: Costly. Our Quality of life: Priceless.
From roads and utilities to schools and parks, police and firefighters to safety inspectors and environmental scientists, everyone benefits from steady investment in public structures that yield well-educated citizens, profitable businesses, safe communities and a healthy environment.
But our state suffers from a structural deficit, with tax revenues over time growing at a slower pace than the economy and demands for public services. By failing to capture revenue from a changing economy, we are starving our economy of the very resources we need for long-term growth and broad economic opportunity.
Washington needs new sources of revenue to support investments in early learning, K-12 and higher education. EOI is putting forward concrete proposals for new sources of revenue to bring our education system up to modern standards, support important public investments, while making our tax system more equitable for everyone.
Featured Publications
Initiative 1098: How will Washington’s effective income tax rates stack up?
08.30.2010
| Initiative 1098's effective tax rates will
be lower than most, raking 27th out of the
44 states (including DC) that tax income. The new tax will apply to
just 1.2% of filers. So what will Washington's
average effective tax rate be on the top 1%
of earners?
Initiative 1098: How will a 20% reduction in the state property tax affect residential and commercial property owners?
06.17.2010
| Initiative 1098 includes a 20% across‐the‐board cut in the state portion of the property tax levy, which will reduce property taxes for both businesses and individuals that own property. How much will the average home or business owner see in savings?
Initiative 1098: Will business owners pay state income tax?
06.17.2010
| Under the provisions of I‐1098, a business owner claiming business income on their personal tax return would only be taxed if his/her total income exceeds $200,000 for single filers or $400,000 for joint filers – and then only on the amount exceeding that income threshold. Just how many filers who claimed business income would have paid income tax under I‐1098 in previous years?
Initiative 1098: What is Considered a 'Small Business'?
06.03.2010 | If passed, Initiative 1098 would eliminate the business and occupation (B&0) tax for all small businesses -- but what is considered a small business? This fact sheet answers those questions and more, from exact tax rates and exemption levels to examples of which businesses would be exempt.
Initiative 1098: Fixing the most regressive tax system in the country
06.03.2010
| A recent study has concluded that Washington State has the most regressive tax system in the country, taxing the lowest 20% of earners over 17% of their income, while the wealthiest 1% pay just over 2%. This fact sheet explains how this is possible, and details the data economists use to determine tax rates.
Initiative 1098: The Right Fix for Washington's Flawed Tax Structure
05.24.2010
| Initiative 1098 would reduce taxes for the majority of Washingtonians
by lowering property taxes and exempting small businesses from the
business and occupation tax. And it would raise new revenue dedicated
to education and health services by adding an income tax on the
wealthiest 3% of households.
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Policy Success
EOI’s
analysis and public education efforts have helped slow down the proliferation
of special interest tax breaks and raised interest in modernizing our
tax system and making it fairer.
Tax Reform: News and Opinion
More tax reform news and opinion »
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