OLYMPIA, Wash. (AP) — Profits on the sale of stocks and bonds in excess of $250,000 would be subject to a new tax on capital gains under a bill narrowly approved Saturday by the Washington Senate.
The measure passed on a 25-24 vote after more than four hours of debate in the Democratic-led chamber. Three members of the Democratic caucus voted no: Sens. Annette Cleveland, Steve Hobbs and Mark Mullet.
“Our hardworking Washington families are ready for us to reform and rebuild our tax code,” said Democratic Sen. June Robinson, the bill’s primary sponsor. “They are asking for the wealthy few to be part of equitable investments in our state’s future.”
