Politics
New tax to fund social housing likely headed to Seattle ballots
The measure proposes a 5% “excess compensation” tax on companies for each employee with a salary over $1M to help fund permanently subsidized housing.
The measure proposes a 5% “excess compensation” tax on companies for each employee with a salary over $1M to help fund permanently subsidized housing.
After major backlash from BIPOC leaders, Councilmember Maritza Rivera revised her proposal, but people still worry about funding for housing, clinics and arts spaces.
The new five-year analysis digs into every department’s spending in an effort to help the city confront a projected $241 million deficit in 2025.
Some Councilmembers who promised to conduct a full audit are softening their approach. Now the city is trying new processes for the next cycle.
The vote finalized more than a year of bargaining for new union contracts, including back pay, annual wage increases and other benefits.