Generate Progressive Revenue
We know that the investments listed in this budget may exceed the City’s general fund. We also know that they do not exceed the City’s potential income. Our City is home to some of the wealthiest corporations and individuals in the world; their wealth only grew during the pandemic. Many of us fought for and won the JumpStart tax, which provided economic relief to immigrant and refugee communities and small businesses during the pandemic and now constitutes a major, though still insufficient, new revenue stream for affordable housing and homelessness. We know that Seattle has other options for generating the progressive revenue we need to create a city that works for all of us. Key recommendations include:
Funding a taskforce of community experts whose charge will be to offer a report with an expanded list of options for progressive revenue to Council, by July 2022.
Addressing any city revenue gaps by divesting from police, courts and prisons -- instead of diverting funds from affordable housing, clean energy, workforce development and other community-defined priorities defined in the JumpStart legislation and spending plan.