Washington Business Owners Say COVID, Tariffs and Taxes Nearly Broke Their Company

Washington business owners Chris and Riley Lear say years of economic instability — beginning with COVID shutdowns and continuing through tariffs, inflation, and rising taxes — have pushed their family business close to a breaking point. The Bonney Lake-based owners of Teeter say surviving the post-COVID economy has required massive staffing cuts, difficult financial decisions, and constant adaptation to rising costs. TOP STORY: BUSINESS OWNERS SAY YEARS OF PRESSURE HAVE TAKEN A TOLL The Lears explained: Their company was forced to lay off roughly two-thirds of its staff during COVID-era disruptions Tariffs, shipping costs, and inflation further reduced profitability Washington’s business climate and pending income tax are creating additional uncertainty According to the discussion: “It has driven them to the brink.” The family says businesses are now facing a difficult choice: ➡️ Continue reinvesting and taking risks to innovate ➡️ Pull back and simply try to survive ongoing economic uncertainty But according to Chris Lear: “We can’t do that because we’ve been kicked in the teeth so many times.” REINVESTMENT AND GROWTH BECOMING MORE DIFFICULT The Lears argued: Businesses want to keep innovating and expanding Long-term investment requires stability and predictability Constant economic shocks are making future planning increasingly difficult The couple pointed to: Tariffs Higher shipping costs Rising interest rates Oil prices Washington taxes and regulations as cumulative pressures steadily weakening employers. Critics argue: ➡️ Businesses are running out of financial flexibility ➡️ Economic instability discourages hiring and expansion ➡️ Additional taxes could push more employers toward downsizing or relocation INCOME TAX DEBATE CONTINUES TO GROW The comments come amid intensifying debate over Washington’s new 9.9% income tax on high earners. Business groups and critics argue: ➡️ The tax could unintentionally impact family-owned companies and pass-through businesses ➡️ Employers need economic stability, not additional burdens ➡️ Washington risks becoming less competitive for investment and entrepreneurship Supporters of the tax argue: ➡️ The measure affects only top earners ➡️ Additional state revenue is necessary ➡️ Economic challenges are affecting businesses nationwide, not just in Washington The broader debate is increasingly becoming one of the central economic and political fights unfolding in Washington state. WHY THIS MATTERS This impacts: Small businesses Hiring and employment Economic growth Investment and innovation Washington tax policy Long-term business competitiveness Business owners say years of economic instability are making it increasingly difficult for employers to plan, hire, and continue growing. #WashingtonState #Business #Economy #SmallBusiness #IncomeTax #Tariffs #Inflation #Politics #BreakingNews #USNews