OLYMPIA — The Washington Legislature has approved a revised bill to repeal a tax break for Boeing, a measure that was requested by the company to resolve a long-running international trade dispute.
The Seattle Times reports that Senate Bill 6690 was passed by lawmakers Thursday, the final day of the legislative session. Boeing wanted the tax repealed to head off retaliatory trade tariffs. The tax incentive has allowed Boeing to pay a lower state tax rate compared to other manufacturing companies.
The lower rate the company wanted repealed had saved Boeing hundreds of millions of dollars since 2003.