Washington Senate Passes SB 5096 25-24 as Tech Industry and Progressives Clash Over Proposed Capital-Gains Tax

Washington state's tech community is sharply divided over SB 5096, a proposed capital-gains tax targeting large gains that startups warn would hurt recruitment and competitiveness; the state Senate passed the bill 25-24 and it now moves to the House. Progressive groups and analysts counter that other tech-leading states tax capital gains and say the WTIA's claims are false, noting many startups received federal PPP aid.

NNick Hanauer MMarc Barros CCivic Ventures WWashington Technology Industry Association