Seattle City Council approves new tax on big business

SEATTLE (AP) — The Seattle City Council has approved adopting a new tax on big businesses, two years after the council repealed a similar tax amid pressure from corporations such as Amazon and the prospect of a voter referendum. The council voted Monday to approve the tax expected to raise more than $200 million per year. The new tax called “JumpStart Seattle” by lead sponsor council member Teresa Mosqueda will target companies with many highly paid employees, whereas the 2018 “head tax” would have applied to all employees at large companies. The council voted 7-2 on the measure, which is expected to raise more than $200 million per year. 

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