Amelia Cook does anInnovation A high-tech manufacturing company in Mount Vernon with his brothers. Products they make Goodwind Composite materials are Literally, this world: They made the carbon fiber legs of a NASA helicopter that flew over Mars.
As a successful entrepreneur, Cook knows that when money gets nervous, you start by looking at your spending hard.
“We’re thinking about where all the dollars are heading,” Cook said. “everytime.”
Olympia lawmakers can follow the lawsuit.
The biggest task rest Before legislative sessions are scheduled to be postponed to April 27th It’ll be finalized Two-year state budget. So far, the Democratic majority has leaned heavily towards a new tax increase, Within the range of $17 billion. They are Please don’t It has to be done.
Many numbers are being cast at the magnitude of the state’s budget shortage, but the reality is that the state has a problem of spending rather than income. The state government underwrites more tax revenues each year, and revenues are steadily progressing to another growth 10 billion dollars The next four years. that’s right Many new money from taxes From an employer who pays about 50% of state and local taxes.
Lawmakers can continue to fund important services and programs without new taxes or increases. But House and Senate lawmakers have proposed the largest tax hike in state history.
How much is it? tax increase? About $14.8 billion Under the House plan $16 billion Under Senate plans. That means higher taxes on the employer, As a result, the price will be higher and an Even higher living costs.
Supporters of the proposed tax increase say They are I’m about to close $15 billion The budget gap is, but the true size of the state budget hole may not be that big. After looking closely at the numbers, the Washington Research Council estimates that the shortage is in a greater range $4.9 billion 2025-27 $8.6 billion Over 4 years.
There are many ways to close the lack of its size without reducing tax increases or critical programs. His budget proposal included Gov. Bob Ferguson. It will be identified About $4 billion In savings through strategic reductions to find government spending and efficiency. The plan protects core services without asking businesses and Washingtonians to pay more.
What do small business owners know? the They do it every day, so they like to make tough budget choices.
Gary Parker, owner of a popular Texas-style barbecue restaurant called Gig Harbor’s BBQ2U, said instead of paying for an extended budget instead of a record-breaking new tax, lawmakers should hear this basic wisdom from small businesses.
Kyra Castle, second generation CEO of Kent’s SMEs, is the CEO of Kent’s SMEs, known as Motors & Controls, and says when money is tough, effective leaders prioritize what they can do now and have to wait until they have the money to pay for it.
“There’s always something you can spend on money,” Castle told lawmakers. “That doesn’t mean you should.”
Chris Johnson is the chairman of the Washington Business Association, the state chamber of commerce manufacturing association.
