Washington Businesses Fear Massive Tax Hike
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Washington state faces a $16 billion budget deficit, prompting proposed tax increases that worry business leaders. Seattle's tech sector, responsible for 1.5 million jobs and 22% of the state's economy, is particularly concerned. Increased B&O and sales taxes could drive businesses out of the state, leading to job losses. Business leaders urge lawmakers to find alternative solutions to avoid the largest tax increase in state history, impacting startups and hindering economic growth.
Washington state faces a $16 billion budget deficit, prompting proposed tax increases that worry business leaders. Seattle's tech sector, responsible for 1.5 million jobs and 22% of the state's economy, is particularly concerned. Increased B&O and sales taxes could drive businesses out of the state, leading to job losses. Business leaders urge lawmakers to find alternative solutions to avoid the largest tax increase in state history, impacting startups and hindering economic growth.
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