What you need to know
- Microsoft backed a bill that would impose a corporate tax to help the homeless in Seattle.
- Amazon, Costco, Alaska Air, Expedia, Starbucks, and other corporations also backed the bill.
- The revenue from the new tax would be earmarked for affordable housing, homelessness services, and public safety.
Microsoft joined several large Seattle-based corporations in backing a bill to help the homeless. The bill would impose a tax on big businesses and employees who make more than $150,000 per year. The income from the new tax would be earmarked specifically for affordable housing, homelessness services, and public safety. Amazon, Costco, Alaska Air, Expedia, and Starbucks were among the several companies that jointly backed the bill. Bloomberg first reported on the joint effort to back the bill.
The companies issued a statement that emphasized that a local solution should be used to address a local issue,
We think the most high impact way to contribute to meet those needs is in the form of a new business tax imposed at a reasonable level with accountability for results in homelessness and affordable housing." The company continued by saying, "We are encouraged by the effort in Olympia that would provide additional affordable housing and services to address the homelessness and public safety crisis but we believe it is critical that this legislation include a regional approach to address a regional issue.
The Washington State bill would allow King County to impose the taxes on companies. King County is the home to the headquarters of several major corporations, including Microsoft.
While several factors contribute to homelessness, the rising cost of housing plays a large factor. The income from the bill would help address that issue, along with other issues related to homelessness.
