This Washington

Extra Fizz: Bank Loophole Worth $115 Million

By Josh Feit May 11, 2011

In today's Fizz, we noted that state Rep. Laurie Jinkins' (D-27, Tacoma) proposal to close bank tax breaks on profits made off interest from mortgage loans was queued up to get moved out of committee.

The committee is still meeting, but a quick update: A fiscal note on puts the dollar figure for what the state would save at $115 million.

The money would go to fund smaller class sizes.
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