Senate Democratic Leader Ed Murray wants to seek voter approval of a 5 percent excise tax on capital gains.
Murray, who is running for Seattle mayor, floated the idea at a news conference Friday. In the past, this kind of trial balloon would have made a stir in Olympia. But with Republicans in control of the state Senate this year, Murray’s proposal might not even get a hearing.
GOP lawmakers have made it clear they won’t increase taxes to plug a projected $1 billion budget shortfall or to meet state Supreme Court mandates for additional K-12 school funding. Gov. Jay Inslee also has said he would veto any new tax.
Murray noted that sending taxes to the ballot would sidestep the governor because it would not need his signature. As for the GOP control of the Senate, “Whether we are in the minority or the majority, we have a responsibility to present the views of our constituents,” he said.