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Attorney Peter Abbarno responds to Governor Inslee’s B & O Tax proposal!

Althauser Rayan Abbarno partner Peter Abbarno recently responded to Governor Jay Inslee’s budget proposal to increase the Business and Occupation Tax Rate and create a new Capital Gains/Income Tax.

“It’s going to siphon any money that we traditionally would reinvest in our workforce and our local communities,” said Peter Abbarno, attorney with Althauser Rayan Abbarno, LLP, on King 5.

Inslee said additional tax revenue is needed to improve schools, the mental health system, and to protect orcas better.

While Republicans have criticized the proposals, Inslee said that doesn’t surprise him and won’t prevent him from trying to get them passed. Inslee thinks Washingtonians support the ideas. “Voters voted on what they wanted,” Inslee said Thursday. “They happened to vote for the blue team.”

“The State of Washington is seeing historic levels of unanticipated revenue from existing sources,” said Abbarno. “Tax rate increases and the creation of new revenue sources on the backs of many small and family owned businesses is unnecessary and will limit the economic growth and potential for many communities.”

Read more at King 5.com