Nearly 100 union and community activists rallied outside a JP Morgan Chase bank branch in downtown Seattle yesterday demanding the state legislature make "Big Banks pay their fair share" by closing a $67 million tax loophole for out-of-state banks.
The rally came on the first day of a special legislative session to close a $2.8 billion budget shortfall that threatens cuts in schools, health care, public safety and other vital services. The House revenue package closes the bank loophole, but bank lobbyists are pressuring the state Senate to maintain the giveaway.
Al Link, Washington State Labor Council (WSLC) secretary-treasurer, says the banks fighting to keep the $67 million loophole open are showing the same greed as
the Wall Street banks that turned their backs on us after they took $700 billion of our money in taxpayer bailouts....Now, here in Washington State, these big banks want even more of our money.
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