Last year, the majority party in all three branches of our government passed a package of last-minute bills that created $2.1 billion dollars more in taxes. One of those bills was House Bill 2158, which imposed the business and occupation (B&O) tax surcharge on certain businesses to pay for higher education programs. However, the state Department of Revenue reported late last year that the tax is expected to create $164 million less than expected over the next four years.
So what did legislators from the majority party do to fix this shortfall? They proposed Senate Bill 6492. Despite opposition and dozens of rejected amendments from Republicans, the bill passed both legislative chambers last week and was signed into law on Monday. Rep. Chris Gildon, R-Puyallup, 25th District, had other solutions to this issue, some of which he proposed on the House floor. Watch the video below to hear how Rep. Gildon wants to make higher education more affordable by providing tax incentives to businesses.