Seattle officials worry that implementing a local capital gains tax would coax wealthy residents to change their home addresses. Seattle City Councilmember Cathy Moore is proposing a local 2% capital gains excise tax that would be applicable to non-retirement financial gains over $250,

The new proposal comes as the City of Seattle is hashing out its 2025-2026 budget, with Mayor Bruce Harrell calling for $8.3 billion in spending. That includes a $270 million hole in the city’s general fund, which helps pay for public safety, administration, education and human services, arts and culture, and other programs.

The Washington State Employment Security Department said in the filing that 72 employees will be laid off on Jan. 17. A Gilead spokesperson said in an emailed statement that some teams will be moved to other offices outside of Seattle.

Biopharma giant Gilead Sciences will shut down its office in Seattle's Eastlake neighborhood, the company confirmed to GeekWire on Wednesday.

The company’s website says that the Seattle office, located at 199 E. Blaine St. in Eastlake, focuses on research and clinical development activities. “We are closing our Seattle office as part of our efforts to align resources with our long-term strategic goals,