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Washington Senate restores estate tax rates; opponents warn of $400 million biennial hit to legacy fund
Summary
The Washington State Senate passed Senate Bill 6,347 to restore estate tax rates after floor amendments. Supporters called it a technical restoration of last year’s policy; opponents, led by Senator Hasegawa, warned it will reduce state revenue by about $400 million per biennium and drain the Education Legacy Trust Fund.
Senators on the Washington State Senate floor voted to pass Senate Bill 6,347, a measure that restores estate tax rates and carries amendments that sponsors described as technical adjustments to implementation dates and scope.
Senator Kaufman, who framed the legislation, said the bill "simply restores those rates" and urged supporting language to maintain funding for the Education and Legacy Trust Fund. Senator Frame moved adoption of amendment 0698, which he described as a…
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