In response to the city of Seattle’s Revenue Stabilization Work Group report, shared in today’s Finance Committee meeting, Seattle Metropolitan Chamber of Commerce President and CEO Rachel Smith issued the following statement. Smith is also a member of the Revenue Stabilization Work Group.
“Seattle has been spending far more than it has been taking in, even after passing the largest tax increase in its history just a few years ago. According to a study by ECONorthwest, the Seattle City Council has voted to impose many new taxes totaling more than $700 million annually since 2018.
A lack of budget transparency, accountability, and practical problem-solving is why voters remain frustrated with the city’s response to its public safety crisis, lingering homelessness problem, and trailing housing affordability as shown in the last several Index reports. Despite years of record revenues and spending growth – there is little measurable progress and few signs of concrete plans.
City leaders should be doing everything in their power, every day, to generate and encourage economic activity – especially downtown as it continues to recover from the pandemic. City leaders need to show they get results before there is any discussion of new revenue.”
About the Seattle Metropolitan Chamber of Commerce
The Seattle Metropolitan (Seattle Metro) Chamber of Commerce is the regional business advocacy organization that engages the innovation and entrepreneurship of its 2,500 members to promote inclusive economic prosperity. Founded in 1882 by local business leaders, the Chamber today is an independent organization representing a regional workforce of approximately 750,000. For more information, visit www.seattlechamber.com.