Gov. Gregoire has signed the Working Families Credit, perhaps the most significant piece of legislation passed this session in terms of its real world impact on the 350,000 Washington families who will qualify for this tax break.
A national study released by the Institute on Taxation and Economic Policy (ITEP) found that Washingtonians with the lowest income pay five times as much as the wealthiest in taxes, as a share of their income.
“The Washington state tax structure is singularly regressive. It is unacceptable for the poor to pay a significantly higher proportion of their income in taxes than the wealthy,” said William H. Gates, Sr., Chair of the Washington State Tax Structure Study Committee. “The Working Families Credit will help bring equity to our state tax system. It’s an investment we really need to make.”
How about that, a tax break for working families for a change, instead of wealthy special interests with high priced lobbyists. It’s a small step toward addressing the most regressive tax structure in the nation… but a step in the right direction.