The Washington State Legislature is in session and looking at the list of proposed bills; nobody’s wallet is safe. Following their last session where the Democrat controlled legislature threw bipartisanship out the window and set new records for spending, it looks like they have set a course to follow that up with new tax programs that will dwarf any in recent memory.
Thanks to Proposition 960 the Office of Management and Budget must calculate the cost of bills submitted for consideration. This newspaper has signed on to receive email notification of those budget calculations and each day we receive numerous messages about the cost to taxpayers of new legislation. While many of the proposals are specific to individual segments of our state economy, there are currently two bills in the legislative process that would add over $88 billion in new taxes over the next 10 years. Yes, that is billion with a B. To put that in perspective those two bills would cost every occupied household in Washington state approximately $37,500 over the next 10 years. That is an average of just over $4,550 per year or 8.7 percent of the average household income in this state.