Voters in Washington State will go to the polls next November 8 to vote on a carbon emission tax initiative that would impose a tariff on the sale or use of certain fossil fuels and fossil-fuel generated electricity.
If passed, Initiative Measure No. 732 is intended to “encourage sustainable economic growth with a phased-in one-percentage-point reduction of the state sales tax, a reduction of the business and occupation tax on manufacturing, and the implementation and enhancement of the existing working families’ sales tax exemption for qualifying low-income persons – all funded by a phased-in carbon pollution tax on fossil fuels sold or used in this state and on the consumption or generation in this state of electricity generated by the consumption of fossil fuels,” the measure states.
