OLYMPIA — Senate Ways and Means Committee may generate the most excitement of the special session to day, with a hearing on several proposals to change tax exemptions, thus bringing in more revenue and mitigating the need for as much as $5 billion in cuts to the 2011-13 budget.
Senate Democrats have several proposals for cutting back on tax preferences (substitute “loopholes” if you prefer), including a reduction in the break for investments, for some agricultural items like bull semen and bedding material for chickens, and a plan to remove the two-thirds majority for changing tax exemptions.
Progressive groups are likely to show up in large numbers in support. Tim Eyman has called for his troops to come to Olympia to protect the supermajority on taxes that they've won over the years at the ballot box.
Earlier in the day, the Senate was floor action on some bills necessary to make the budget work. They might also have a resolution honoring the troops involved in the mission that got Osama bin Laden.