AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

The City Council in Seattle, home to Amazon, Starbucks and other major companies, has passed an ordinance that would tax businesses in a bid to fight homelessness. The legislation, passed on Monday by a 9-0 vote, would impose an annual tax of $275 per full-time employee on companies with revenue of more than $20 million.
The council had initially planned a tax of $500 per year per employee but Seattle Mayor Jenny Durkan had threatened to veto the legislation. According to the council, the tax will generate $47 million a year and affect nearly 600 businesses - about three percent of the total in the city, the largest in Washington state.
The tax will end in December 2023.
"Our goal is to have a successful and vibrant business community - one of the best in the country - and at the same time, assist our most vulnerable and strategically invest in affordable housing," council president Bruce Harrell said in a statement.
"This tax contributes toward the long-term solution of affordable housing, while giving immediate attention and resources to fund shelter services, so those living on the streets tonight can find a dry, warm and safe place to stay," said council member Sally Bagshaw.
Former Seattle mayor Edward Murray declared a "state of emergency" on homelessness in 2015, a year which saw 45 homeless people die on Seattle streets. According to The Seattle Times, there were more than 11,600 homeless people in King County in 2017, putting Seattle in the top 10 US cities in terms of numbers of homeless. The newspaper quoted Amazon spokesman Drew Herdener as expressing disappointment with the City Council's move. "We are disappointed by today's City Council decision to introduce a tax on jobs," Herdener said.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.