skip to main content
skip to newscasts

Saturday, February 8, 2025

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

January jobs report: Unemployment rate falls to 4%, wages rise more than forecast; Trump signs order imposing sanctions on International Criminal Court over investigations of Israel; Ten Commandments in public schools debate reaches South Dakota; Virginia ranks among worst states for wage theft; Mexican long-nosed bat makes appearance in Arizona.

view newscast page
play newscast audioPlay

Attorney General Pam Bondi strikes a Trump tone at the Justice Department, federal workers get more time to consider buyouts, and an unclassified email request from the White House worries CIA vets.

view newscast page
play newscast audioPlay

During Black History Month, a new book shares how a unique partnership built 5,000 schools for Black students, anti-hunger advocates say ag communities would benefit from an expanded SNAP program, and Americans have $90 billion in unpaid medical bills.

WA Joins Multi-State Effort to Pass Wealth Tax

play audio
Play

Thursday, January 19, 2023   

Lawmakers in Washington and other states are introducing bills taxing wealth in their legislatures in a coordinated effort today.

In Olympia, legislators aim to tax wealth made on the ownership of stocks, bonds and other financial assets.

Carolyn Brotherton, policy associate at the Economic Opportunity Institute, said the legislation targets multimillionaires and billionaires.

"It would be a 1% property tax on financial assets worth more than a quarter-billion dollars," Brotherton explained. "We're talking some of the wealthiest people not only in our state but in the world would pay the state wealth tax."

Brotherton noted the tax is estimated to generate $3 billion a year. The funds collected will go to education, housing, disability services and tax credits.

Washington state lawmakers and organizations supporting the bill are holding a news conference today at 12:45 p.m. Lawmakers passed a capital-gains tax in 2021 aimed at wealthy Washingtonians, but the law has been challenged as unconstitutional because it resembles an income tax. The state Supreme Court will hear the case later this month.

Brotherton pointed out Washington state's tax system is reliant on sales tax, which creates a regressive system, in which low-income households pay a much higher portion of their wages in taxes than high-income households do. She added the last time the tax code was significantly updated was in 1933.

"Really, a state wealth tax is bringing our tax code into the 21st century," Brotherton contended. "The way our economy works today is very different than it worked in 1933. We have a very financialized economy."

Brotherton emphasized other states are also realizing their tax codes aren't keeping up with the current economy.

"Wealth inequality is out of control, and it's not just a matter of numbers on a page or issues about fairness," Brotherton asserted. "It's really about making sure that our communities have the resources that we need in order to live a good life."

Wealth taxes are being introduced in six other states today, including California and New York.

Disclosure: The Economic Opportunity Institute contributes to our fund for reporting on Budget Policy & Priorities, Education, Livable Wages/Working Families, and Senior Issues. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
Opponents of a South Dakota bill that would require the Ten Commandments be posted in all public school classrooms say it would be an unfunded mandate. (Adobe Stock)

Social Issues

play sound

A South Dakota House committee takes up a controversial bill today that would require all school districts in the state to display the Ten Commandment…


play sound

Virginia ranks third behind only Maryland and Delaware among the worst states for the average amount of back wages companies owe to their workers…

Environment

play sound

Some North Dakota school districts are part of a movement that has embraced electric school buses, but the federal funding shakeup carried out by the …


Florida immigrant advocacy groups are intensifying efforts to help undocumented individuals navigate encounters with Immigration and Customs Enforcement officers. (David Peinado/Pexels)

Social Issues

play sound

Immigrant advocates in Florida are ramping up efforts to help families navigate President Donald Trump's new immigration orders, which have increased …

Social Issues

play sound

The rate of U.S. high school seniors seeking higher education is on the upswing, according to research from Lumina Foundation. Although Hoosier …

Gov. Kathy Hochul's free community college proposal would apply to people pursuing first-time associate degrees for jobs in high-demand fields, including nursing, teaching, technology and engineering. (Adobe Stock)

play sound

New York State is making historic higher education investments. As part of the 2026 budget proposal, Gov. Kathy Hochul proposes free community …

Social Issues

play sound

Alabama nonprofits are coming together to tackle challenges that may threaten their survival, from declining donor support to shifting federal …

Health and Wellness

play sound

Consumer advocates in Maine said the availability of enhanced subsidies have helped record numbers of people get the health care coverage they need…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021