What could a capital gains tax mean for Seattle?

Soundside

Washington voters just upheld the state’s new capital gains tax — which places a 7% tax on the sale of long-term assets like stocks and bonds.

Now, the Seattle City Council is looking at a proposal to create its own capital gains tax for the city itself. Instead of benefitting schools, like the state tax, this revenue would fund things like rental assistance.

But so far, the idea is not being universally embraced by city leadership. Seattle City Councilmember Cathy Moore sits down with Soundside host Libby Denkmann to discuss why she thinks the capital gains tax idea is right for Seattle.

GUEST: Seattle City Councilmember Cathy Moore (District 5)

RELATED LINKS:

• Seattle could get its own baby capital gains tax - KUOW

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