KGMI News
OLYMPIA, WASH. – Republican State Senator Phil Fortunato of Auburn says if Washington institutes a capital gains tax on the sale of stocks and bonds, as proposed by Democrats, it’ll be a disaster.
“If they’re going to say, ‘ I’m not going to tax you, I’m going to tax the rich people,’ it reminds me of a sign I saw in a pawn shop, ‘We cheat the other guy and pass the savings on to you,'” Fortunato says.
Democratic State Representative Gerry Pollet says that’s not at all a fair depiction of the capital gains tax proposed as part of the House school funding package.
“It’s time for those people who have very large amounts of revenue to pay a small share for their support of our state’s education and health needs,” Pollet says.
Three weeks into this special Legislative session, the House and Senate have yet to agree on a budget that includes fully funding public education.