OLYMPIA, Wash. — The House finance committee in Olympia heard arguments on Thursday for and against a proposed capital gains tax.
Proceeds from the tax would go to the general fund and other allocations supporting childcare.
31st District Republican Representative Drew Stokesbury calls the tax unpredictable.
House bill 1496 is co-sponsored by 40th District Democratic Representative Alex Ramel.
It is estimated the tax would impact 2% of state residents.
Conservative groups have argued against the bill, and Senate measure SB 5096, saying capital gains taxes are prohibited by the state constitution.