New taxes bring no “measurable” effect on environment or build better roads
Democrats passed both a cap-and-trade and LCFS bill, the impacts of which will increase the gas tax by 55 cents without any measurable effect on the environment or better roads. Combined with the current rates, total gas tax will eventually grow to $1.23/gallon.
Sen. Judy Warnick, the top-ranking Republican on the Senate agriculture committee, said, “I think the high cost is going to hit the low-income people and our agriculture people harder than anyone else.”
Republican Sen. Perry Dozier, an Eastern Washington farmer, warned the two bills will be a “poison pill for agriculture” because everything in agriculture depends on fuel. The bills would “give the Department of Ecology authority to implement the two programs.” That entails “writing the rules for cap-and-trade alone would cost $27.3 million over two years and occupy the equivalent of 54.5 full-time state employees.”
Senate Republican Leader John Braun put it, “We’re handing over the economy to an unelected agency.”
According to the Washington Policy Center’s Todd Myers, both plans would have a “corrupting effect, rewarding insider special interests and favored political allies while doing absolutely nothing to reduce CO2 emissions.” Myers notes that the official fiscal note estimates that under the bill the “price of CO2-reduction in 2030 would be about $33 per metric ton (MT). By way of comparison, the cost of the LCFS is likely to be similar to California’s current price of $200 per MT – six times as much for the same amount of reduction.
The LCFS doesn’t reduce any additional CO2 or benefit the environment, it just makes the already-required emissions reductions more expensive, with the extra money going to biofuel corporations.”
A new op-ed in the Seattle Times calls out Washington Democrats for deceptively mislabeling their state income tax on capital gains.
Democrats categorized the tax as an excise tax rather than an income tax.
The op-ed explains that “were a capital-gains tax an excise tax, it would fall on the entire sales price (or a specific price per transaction), not just the net gain. It would be imposed on each transaction, not the aggregate of gains and losses.” Undeniably, the “net proceeds from the sale of an asset are income, or that this money in an investor’s possession is — per Washington courts’ definitions — intangible property subject to ownership.”
Note when the state budget is fully funded, even with COVID shutdowns, is it time to implement these and other NEW taxes? You Decide please comment