By Cameron Sheppard WNPA News Service Fewer businesses will be asked to foot the bill for higher education programs after Gov. Jay Inslee signed Engrossed Substitute Senate Bill 6492 on Monday. The bill will restructure the business and occupation tax and surcharges put in place by legislation passed last year to fund investments in public colleges as well as to provide grants that increase access for low and medium-income students. “We are going to make massive investments in public higher ed,” said Sen. Jamie Pedersen, D-Seattle. “Both for the institutions and more importantly, for the students who need access to these services.” Legislation signed last year and put into effect this year stipulated that on top of the B&O tax rate, certain businesses would also pay a Workplace Education Investment Surcharge. Pedersen, the new bill’s prime sponsor, said he and his colleagues realized the demand for higher education programs was much higher than revenues called for in last year’s legislation. Senate Ways & Means Committee staff member Jeff Mitchell said the tax rate that took effect in January was estimated to have generated $773 million in revenue over four years, while this year’s adjustment is estimated to bring in over $1 billion during the same timespan. Pederson said this new legislation will be “simpler to administer, more predictable and sufficient to meet the needs of the state.” He said the new surcharge will affect less than 15,000 businesses and applies only to those defined as “advanced computing” companies, such as Microsoft or Amazon. The earlier legislation affected more than 80,000 companies. Advanced computing companies are defined as firms that make computer software or hardware, provide Cloud computing services, manage online marketplaces, or online social networking platforms. Pedersen said he wanted to focus the majority of the revenue collection for workplace education investment on businesses that “by their nature, rely on highly educated professionals.”
Published: Wednesday, April 17, 2024 CLIMATE JOBS WASHINGTON A new coalition of labor unions, Climate Jobs Washington (CJWA), announced a slate of budget and legislative victories that will create high-quality union jobs, accelerate climate action, and advance equity across the state
Published: Wednesday, April 17, 2024 20 Dollars an Hour $20/Hour Minimum Wage Proposal Clears Key Committee Action
Published: Wednesday, April 17, 2024 Helping Address Drug Crisis Snohomish County Awards Funding to 11 Community Organizations Providing Recovery Services
Published: Wednesday, April 17, 2024 PUDs Energy Block Party on April 27 Snohomish County PUD is hosting its Energy Block Party at 11 a.m. on Saturday, April 27 at its Electric Building headquarters in downtown Everett.
Published: Tuesday, April 16, 2024 Nominate Your Favorite Mother Mothers have the hardest job on the planet, so the team at CM Heating and Cooling wants to show their appreciation by gifting a free HVAC unit to a local mom to recognize the unparalleled dedication of mothers