6346-S.E AMH ORCU HARA 469

ESSB 6346 - H AMD TO H AMD (H-3793.3/26) 2568

NOT ADOPTED 03/09/2026

On page 2, beginning on line 6 of the striking amendment, after "(7)" strike all material through "households" on line 20 and insert "The legislature further finds that the structure of Washington state's tax system has historically provided a stable and reliable source of revenue for essential public services. Studies have overwhelmingly indicated that Washington has among the lowest levels of tax revenue volatility in the nation, reflecting the state's reliance on incredibly stable revenue sources. Research comparing state revenue trends determined that Washington ranked among the states with the most stable tax collections over time and that, during recent years of significant nationwide fiscal fluctuation, Washington’s overall tax revenue volatility remained substantially lower than that of most other states. Despite the imposition of the capital gains tax, which introduced significant volatility to our K-12 and early learning funding structure, Washington state has averaged 6.9% revenue growth per year over the past ten years. The legislature recognizes that imposing an income tax on a very limited number of individuals and businesses will expose funding for critical state services to severe volatility"

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