Here was our question: Making it last call for the WSLCB would only save $120 million (their operating budget for running state liquor stores) while losing booze revenue would sap $330 million from the state. The difference? Negative $210 million. So, how does this help?
The senate Democrats called us this morning—Democratic state Senator Tim Sheldon (D-35) is co-sponsoring a liquor store privatization bill with Republican state Senator Curtis King (R-14)—to explain.
Yes, they acknowledged, the equation of shutting down state run stores + losing booze revenue (we still get the taxes, though that's not nearly enough to make up the difference) is a loser.
But there's more to the idea. The state would auction off the 160 liquor store licenses (worth $200 million) and sell the booze distribution warehouse they own along the Duwamish ($30 million).
So, privatizing liquor sales nets the state $20 million ($230 million minus $210 million) right off the bat.