Seattle mayor freezes JumpStart tax rates for tech firms in 2027 budget

Seattle Mayor Katie Wilson proposed a $9.1 billion 2027 budget that closes a $175 million deficit through spending cuts and no new taxes on big business, including no increase to the JumpStart payroll tax. Rates stay flat as the city cites 'seismic shifts' in the tech sector, with over 30% of JumpStart revenue, about $140 million, still dedicated to affordable housing.

• Seattle's 2027 budget totals $9.1 billion, closing a $175 million deficit without new taxes
• Spending is cut by nearly $50 million a year and 128 positions are eliminated, 15 filled
• JumpStart rates stay flat; over 30% of revenue, about $140 million, funds affordable housing
• Top 10 payers including Amazon, Meta and Google generate roughly 70% of JumpStart revenue