The new proposal comes as the City of Seattle is hashing out its 2025-2026 budget, with Mayor Bruce Harrell calling for $8.3 billion in spending. That includes a $270 million hole in the city’s general fund, which helps pay for public safety, administration, education and human services, arts and culture, and other programs.

Seattle officials worry that implementing a local capital gains tax would coax wealthy residents to change their home addresses. Seattle City Councilmember Cathy Moore is proposing a local 2% capital gains excise tax that would be applicable to non-retirement financial gains over $250,

Louisiana’s GOP-dominated House of Representatives has overwhelmingly passed individual and corporate tax cuts, along with a constitutional amendment.

Jeff Landry’s complicated tax package continued to power forward Wednesday as a key legislative committee approved more than $1 billion in new sales taxes. That money would mostly offset the House’s decision the day before to cut income taxes and repeal the corporate franchise tax.

Key provisions of Louisiana Gov. Jeff Landry's plan to cut personal income and corporate taxes passed the state House of Representatives on Tuesday. The House voted 87-12 to shift individual income tax rates to a flat 3% and 83-14 to eliminate the corporate franchise tax.