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Ukraine plans to spend 43.8% of its GDP on defense in 2027

Ukraine’s parliament has approved in a first reading a 2027 state budget that sets aside 4.885 trillion hryvnias (about $107.5 billion) for security and defense, equal to 43.8% of the country’s projected gross domestic product. The Verkhovna Rada passed draft budget No. 16000 on Oct. 28 with 239 votes in favor, 25 against and 26 […]

Senator rings alarm bells on waste and fraud at DHS

Sen. Peters said recent reporting and the agency's lack of cooperation with its inspector general cast doubt on DHS's management of funding.

Β© AP Photo/Evan Vucci

FILE - Sen. Gary Peters, D-Mich., listens to a question during a news conference on Capitol Hill, March 8, 2022, in Washington. President Joe Biden's increasingly stark warnings about Trump-fueled elements of the Republican Party are making up the core part of his midterm message, combined with repeated reminders to voters about recent Democratic accomplishments and a promise that democracy can still produce results for the American people. "It's a particularly strong issue for our base," said Peters, who leads the Democratic Senatorial Campaign Committee, the official campaign arm of Senate Democrats. (AP Photo/Evan Vucci, File)

Governmentwide cyber exercise to test resilience against AI cyber attack

Mike Duffy, the acting federal CISO, said the tabletop event will help ensure agencies have the capabilities and the processes to respond to any cyber event.

Β© Getty Images/iStockphoto/NicoElNino

Cybersecurity IT engineer working on protecting network against cyberattack from hackers on internet. Secure access for online privacy and personal data protection. Hands typing on keyboard and PCB

Leadership network aims to help next generation tackle the national debt

"The initiative supports the next generation of fiscal leaders, helping them thrive as they pursue leadership roles in jobs," said Myra Sung.

Β© The Associated Press

FILE - In this May 17, 2018, file photo, new graduates line up before the start of the Bergen Community College commencement at MetLife Stadium in East Rutherford, N.J. There’s no single policy or action that will alleviate America’s $1.74 trillion student loan debt crisis while simultaneously preventing students from taking on unaffordable amounts of future debt. Higher education financing experts are divided on the exact combination of solutions, but all agree it will require a multipronged approach. (AP Photo/Seth Wenig, File)

Hegseth ties new drone command to uncertain reconciliation bill

The Pentagon is pursuing at least $350 billion more for defense β€œregardless of what happens” in the midterm elections on Nov. 3, the secretary said.

Β© The Associated Press

Defense Secretary Pete Hegseth speaks before President Donald Trump at an event for Anduril Industries, Inc., at Sparrows Point Shipyard, Tuesday, Oct. 6, 2026, in Sparrows Point, Md. (AP Photo/Julia Demaree Nikhinson)

Is Congress losing control over the spending power of the purse?

"Even if Congress isn't taking action immediately, I think that this is a a trend and a pattern that we could see a lot of discussion about," said Loren Duggan.

Β© AP Photo/J. Scott Applewhite

The U.S. Capitol is seen from the Cannon House Office Building as Republican lawmakers passed a bill to fund the federal government through Dec. 4, in Washington, Wednesday, July 22, 2026. (AP Photo/J. Scott Applewhite)

Seattle’s tax burden shifted to business as jobs slipped away, new report finds

Taxes have outpaced population, employment and other other factors in Seattle (Image via ECOnorthwest)

Seattle’s tax collections have nearly tripled over the past decade, soaring from $900 million in 2013 to a projected $2.8 billion in 2026. But who pays those taxes, and how the tax revenue is collected, looks vastly different today than a decade ago.

A new report released by ECOnorthwest, commissioned jointly by the Downtown Seattle Association (DSA) and the Seattle Metropolitan Chamber of Commerce, show city tax revenues far outstripping population and job growth, driven by targeted corporate taxes on a small pool of major employers.

Between 2013 and 2025, Seattle’s tax revenues jumped 172%, outpacing population growth (31%), job growth (23%), and local inflation (50%). During that period, real tax growth grew 5.6 times faster than population and 7.5 times faster than employment.

The findings come as city leaders, major tech employers and regional business groups grapple with shifting post-pandemic work patterns and a political climate that has frequently placed large technology companies like Amazon in its sights.

According to the report, broad-based core taxes, such as property, sales, utility, and general Business & Occupation (B&O) taxes, comprised 83% of city tax collections in 2013. By 2026, those core broad taxes are projected to drop to just 52% of the total revenue.

Replacing them are narrow, targeted tax levies:

  • The JumpStart Payroll Expense Tax (2021): Paid by fewer than 500 companies, with the top 10 taxpayers footing 73% of the total bill.
  • The Social Housing Tax (2025): Paid by roughly 220 entities, with its top 10 taxpayers covering 66%.

Combined, two taxes that did not exist five years ago now account for nearly a third of all business tax dollars collected by the city. Overlap among top taxpayers means fewer than 20 companies account for roughly $356 million in annual City of Seattle revenue.

β€œSeattle’s tax collections are growing far faster than its population, jobs or inflation. Employers are carrying more of that burden. That trajectory is not sustainable,” said Seattle Metro Chamber president & CEO Joe Nguyen. β€œThe question cannot always be how to collect more money. It must be how to deliver better results with the money we already have and build a tax structure that helps our economy grow.”

The heavy pivot to business revenue coincides with divergent employment trends between Seattle and its neighboring Eastside hubs.

Between March 2020 and March 2025, Seattle lost approximately 24,000 jobs, while the remainder of King County added 21,000. The report notes that Seattle lost 18,000 jobs in the single year leading up to March 2025 alone. And that figure that does not yet capture the full impact of major remote work policies and tech layoffs announced across the region.

The report arrives on the heels of previous GeekWire coverage tracking regional tech dynamics, including the shift of high tech jobs from Seattle to Bellevue, as well as broader political shifts in how West Coast hubs are responding to tech sector backlash and the AI boom.

However, in a sign that Mayor Katie Wilson is paying close attention to tech-sector headwinds and shifting job patterns, she proposed a $9.1 billion 2027 budget that would erase a $175 million general fund deficit and cut nearly $50 million in spending while freezing JumpStart tax rates.

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