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Call to Action on SB-5929 & HB 2186

Changing the State Excise Tax System Creating a Capital Gains Tax and Raising the B&O Tax by 20%

May 8, 2017

We are asking you to call your Senators and Representatives as soon as you receive this call to action concerning SB 5929 and HB 2186, New State Capital Gains Tax of 7%, a 20% Increase in B & O Taxes, raises the real-estate excise tax and other tax increases.  You can find your lawmaker, where you live and where you work, at the following link:  http://app.leg.wa.gov/DistrictFinder/.  SB 5929 is very similar to the House Bill, HB 2186 proposed by the House and Senate Democrats and supported by the Governor.

It should be known that key Senate Republican lawmakers brought these proposals for a vote and a vote was held and these proposals died due to not enough Senate Republican or Democrat votes.

These bills were supported by the State and Local Teacher’s Unions asking that the Democrats “funding package,” together with the bills mentioned above and other revenue sources need to be passed to raise over $3 billion dollars for education K-12.  The business community and others all agree that there should be additional funding for education and that for the most part the state economy needs to create that additional funding, together with other business incentives.  We need to call to oppose SB 5929 and HB 2186.

  • This does not apply to the home that you live in – but does apply to apartment houses, commercial buildings, self-storage, shopping centers, and all other commercial/investment real-estate.
  • It also applies to the sales of stocks, bonds, and we believe the sale of gold, silver, and other precious metals.
  • And, while the tax plan offers some B&O tax relief for very small businesses, tens of thousands of employers would see a 20 percent B&O tax increase.  The B&O categories include: 0.471, 0.484, 1.50, and 1.63.
  • It also increases the real-estate excise taxes from 1.285% up to 2.5% depending on the value of the property.

We urge you, as soon as you get this message, that you contact your State Senator and two House members where you live, as well as, where your business is located to vote NO on HB 2186 and SB 5929.  When contacting your Senator tell them to Vote NO on SB 5929 and when contacting your House members tell them to Vote NO on HB 2186.  We are currently in a special session and budget negotiators are in the process of negotiations a state operating budget and we want to make sure that they hear clearly that these bills discourage real-estate investment.

Please CALL NOW!


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