Seattle Councilmember Proposes Major Changes to Business Tax Structure

June 26, 2025 - 01:17

On Wednesday, Seattle Councilmember Alexis Mercedes Rinck introduced a significant proposal aimed at revamping the city's Business and Occupation tax. The initiative, known as the Seattle Shield Initiative, is designed to alleviate the financial burden on small businesses by increasing exemptions, while simultaneously raising taxes for larger businesses. Rinck is hopeful that her colleagues will support the initiative, allowing it to be placed on the ballot for voters this November.

The proposal seeks to address the growing concerns about the sustainability of Seattle's budget amid rising costs and economic challenges. By shifting the tax burden, Rinck believes the initiative will create a more equitable tax system that supports local entrepreneurs while ensuring that larger corporations contribute their fair share to city revenues. The plan has sparked discussions among council members, business owners, and community leaders, all eager to understand its potential impact on Seattle's economic landscape. As the council deliberates, the future of the Seattle Shield Initiative remains uncertain but holds promise for a more balanced approach to taxation in the city.