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Washington State Journal

At the end of the mostly virtual legislative session April 25, lawmakers passed a hefty $59 billion budget that funnels millions into childcare, public health, rental assistance and addressing the economic impact of a yearlong global pandemic.

The budget includes a controversial capital gains tax, which would collect 7% on the exchange of capital assets such as stocks above $250,000. Democrats have targeted the revenue to fund childcare and tax credits for low-income families.

“We addressed tax reform through the Working Families Tax Credit for Washingto...