Carbon Washington
Initiative
732 on the 2016 Washington state ballot proposes a tax on carbon emissions from
certain fossil fuels. This tax swap, as stated in the Carbon Washington
Proposal, is expected to take place over two years, with an initial $15 tax per
every tonne emitted. The carbon tax increases to $25 per every tonne emitted
the following year.
The
proceeds from this tax offset sales and business operation taxes, as well as
provide tax rebates for low-income families. Sales tax decreases by half a
percent each year, and businesses and operations taxes for manufactures is
eliminated. The Working Family Rebate will provide up to $1500 from federal
Earned Income Tax Credit (EITC) to 400,000 low-income families. With the population
of Washington state being about 7.062 million as of 2014 (United States Census
Bureau), this tax rebate effects about 5.665% of Washingtonians that are of
low-income working households. Additionally, farm diesel and public transportation systems are exempt from the tax.
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