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Democrat Jinkins adds capital gains tax to agenda

Post by Brad Shannon / The Olympian on Jan. 17, 2012 at 11:40 am with No Comments »
January 17, 2012 2:22 pm

Democratic Rep. Laurie Jinkins of Tacoma has introduced a 5 percent capital-gains tax that she says could bring in anywhere from $215 million to $650 million a year, based on recent flux in the economy. It comes on the heels of another Democratic proposal to impose a 1 percent income tax and eliminate or reduce other taxes that was introduced last week in the Legislature.

Jinkins’ proposal, which is co-sponsored by 25 other Democrats, is described in House Bill 2563. The second-year lawmaker said she is not earmarking the potential revenue for any one cause, or proposing a ballot measure – although she said one is possible in the spring or November.

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