Those who argue that an income tax would help provide stability for Washington’s revenue should heed this warning from the state’s July S&P credit rating: “Sales-tax-based revenue structure, which has demonstrated less sensitivity to economic cycles than those of income-tax-reliant states.” Ironically, S&P also noted: “In addition, the state constitution allows Washington to raise taxes with a majority vote of the legislature but restricts
Income tax proposals just won't die in Washington state
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Rather than assigning a number, S&P said “analytical narrative paragraphs” will be “most effective at providing detail and transparency on ESG credit factors material to our rating analysis.”
S&P Global drops ESG scores amid political backlash, investor confusion
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