Is Seattle at a tipping point with businesses after proposing a payroll tax? Will the rising costs of doing business in Seattle make it harder to attract new companies?
The Lens, the online news source of the Business Institute of Washington, explores these and related questions in a recent story about the growing controversy about a “head tax.” It would charge larger companies about $500 per employee per year to raise funds to combat homelessness in the city.
Many who oppose the idea, including Washington Retail Association, believe the city’s growing revenue stream is sufficient to address homelessness without imposing a new tax that could hurt the economy by discouraging companies from moving to Seattle or doing additional hiring. Read the article here.
In a related matter, Washington State Wire has carried a commentary on a growing Seattle coalition that believes the city has enough financial resources to address homelessness without further burdening business with new taxes. Read and learn more about Speak Out Seattle here.