SEATTLE — The Seattle City Council on Monday approved adopting a new tax on large businesses, two years after the council repealed a big business tax amid pressure from corporations such as Amazon and the prospect of a voter referendum.
The new tax called “JumpStart Seattle,” from lead sponsor and 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. The tax repealed by the council in 2018 weeks after it was adopted was expected to raise $47 million per year.