- Associated Press - Tuesday, January 13, 2015

OLYMPIA, Wash. (AP) - Gov. Jay Inslee touted his proposals to eliminate a handful of tax exemptions and to raise some taxes for the upcoming two-year budget.

In his “State of the State” address Tuesday, Inslee said he looked for revenue proposals that would address what he calls the “nation’s most unfair tax system.”

Inslee presented his budget plan last month that proposed a 7 percent capital gains tax on earnings from the sale of stocks, bonds and other assets above $25,000 for individuals and $50,000 for joint filers. He also has proposed a cap-and-trade levy on carbon polluters, a 50-cent per pack cigarette tax and a tax e-cigarettes and vapor products.

The governor also has proposed eliminating several tax exemptions, including tax breaks on royalties, another for oil refineries and one on sales tax on bottled water.

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