Legislature Gets a Reprieve on Estate Tax – Drop-Dead Date Now is Next Week
Due to a technical problem with the estate tax, the state of Washington’s Department of Revenue will soon begin sending out rebate checks to millionaires, depriving the state’s education budget of up to $140 million in much needed money. The State House passed a bill to close the loophole, but Senate Republicans, led by turncoat Rodney Tom, won’t agree to close the loophole unless they lower estate taxes.
On Tuesday, Gov. Jay Inslee denounced the Senate’s inaction and raised the likelihood that the matter will figure in future political campaigns. “I just have to tell you this has been a shock to me, that at a time when we have a $4 billion deficit in our education fund, at a time when we have a voter approved measure that asked the wealthiest amongst us to pay a certain portion of their estates to our schools, at a time when we should all be working together to plug that hole, that the Senate majority wants to knock another hole in the ship and take on more water.”