Seattle’s soaring technology industry is the target of the liberal city’s newest tax scheme, with local officials planning to impose a hefty tariff to help the region’s exploding homeless population.
According to Fox News, the Seattle City Council is poised to levy a 26 cents tax on every hour worked within the city limits for specific businesses; hoping to raise over $75 million per year to “address the growing homeless problem.”
“The city is going to make us choose between taking care of our employees and giving back to our community,” said a local business owner, “and some businesses will die or leave Seattle because of this.”
“You start creating a scenario where it’s much more attractive to house employees outside the city,” said HomeStreet CEO Mark Mason. “That is bad for the city, it’s bad for jobs, it’s bad for the economy.”
City officials claim the funds will go directly towards permanent shelters for the homeless population, which has grown by a whopping 20% since 2016.
“Housing and homelessness is absolutely a regional crises and we need to act with urgency right here in Seattle to get folks inside,” said Seattle City Council member Teresa Mosqueda. “This creates almost 200 deeply affordable homes.”
Read the full story at Fox News.