Wednesday, August 11, 2010

WA "Study: Privatized booze sales could cost state $500 mil"

Chris Grygiel (
Two measures that would privatize liquor sales in Washington would leave state and local governments with a huge fiscal hangover, according to revenue estimates released Wednesday.

Initiative 1105, which is being pushed by beverage distributors, could decrease state tax revenues up to $520 million over five years and take up to a $210 million bite from local coffers over the same time period, according to the Office of Financial Management.

Meanwhile Initiative 1100, the booze privatization bill backed by Costco, would decrease state revenues up to $85 million through 2015 and cut into local tax sources up to $192 million, OFM says. MORE...

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