Some good ideas to help create and sustain jobs, died this week in the legislature
Senate Bill 5422, introduced by Senator John Braun (R), would reduce or remove the tax liability on products manufactured and exported out of Washington State to help reduce the burden on businesses to allow them to create jobs and rebuild the manufacturing sector impacted by COVID-19.
The business sectors the bill would affect predominantly are,
- Wheat and flour products
- Fish exports
- Dairy products
- Semi-conductor manufacture
- Canned fruit and vegetables
- Wood biomass fuel
- Perishable meat products
- Travel agencies
- Aerospace and related industries
- Timber and Wood products
- Aluminum production
- Solar energy
Taking the approach of reducing tax rates on product manufacture and export helps sustain the generally higher paid jobs in the manufacturing sector. These jobs were negatively impacted at a higher rate than, for example, high tech jobs that adapted to COVID much easier.
While the bill died in committee, WPC believes the policy is sound and should be considered for re-introduction in the future.