Legislature Ends Decades-Old Big Oil Tax Loophole

2017: Legislature Ends Decades-Old Big Oil Tax Loophole

After years of work, Washington decision makers closed a tax loophole that has benefited out-of-state oil companies for decades. While the tax loophole was created in the 1940s for wood biomass fuels and not originally intended for oil companies, these dirty industries have enjoyed tax cuts instead of paying their fair share to support our state. Closing the loophole will provide $70.8 million to state programs over the next four years.