WA officials push for P&C insurance tax increase despite opposition

Washington state legislature is pushing for the creation of a fund to help pay for wildfire damages – but local insurers aren’t too happy about how they want to raise the funds as the plan would necessitate an increase in P&C insurance taxes. Last month, Commissioner of Public Lands Hilary Franz and state Senate Democrats proposed to increase the tax on premiums for P&C insurance. Legislators said the tax is necessary to raise $62.5 million annually, which will be used to pay for wildfire suppression and prevention. Never before have we faced a wildfire crisis of this magnitude,” Franz said during a recent Senate committee. “And one way or another, we are going to pay for our wildfires and dying forests. The question is whether we are going to pay to react as we deal with smoke and flames, or pay to be proactive.

Spotlight

Spotlight

Related News