Inslee budget highlights
December 31, 2020
Compiled by the Faith Action Network
Last week, Governor Inslee issued his proposed budget for the 2021-2023 biennium and policy recommendations, and here are highlights. For more detail, see the full text on his website.
The total 2021-23 biennial budget is $57.6 billion. The budget shortfall is estimated now to be between $2.5 and $3.5 billion.
--The Working Families Tax Credit is included in his climate revenue package, the Climate Commitment Act.
--Capital Gains tax at a 9% rate, starting at $25,000 for individuals and $50,000 for joint filers, which will raise $3.5 billion over four years. This would take a year to get set up and would begin on July 1, 2022. Single-owned businesses, homes, retirement accounts, farms and forests, and income from salaries will be excluded.
--Housing - $400 million to build affordable housing and $8 million for youth services.
--Public Health - $397 million to assist struggling public health entities, fund PPE equipment, contract tracing, and data systems through an assessment on health insurance providers, equal to about $144 per year for a family of four.
--$79 million for broadband internet expansion to those who don't have it.
--$724 million for culvert removal to nurture salmon habitats.
--$51 million to build a new mental health facility with 350 beds at Western State Hospital.
--$100 million for rental assistance and landlords, and $100 million in grants for struggling businesses.
--Money back in for the Racial Equity Office, a bill that was passed but unfunded last spring because of covid-19 needs.
--Increases weekly unemployment benefits from $201 to $245 per week.
--Decreases unemployment tax on employers.
--Support for Independent Investigation bill, one of five bill priorities for the WA Coalition for Police Accountability (WCPA).