City Council member Alex Pedersen is proposing a capital gains tax in the city. It’s part of an effort to rethink regressive taxes, and it if it's successful, it'll shave some money off your water bill.Seattle Times reporter Sarah Grace Taylor explains the proposal, and why the city is looking for new tax ideas.We can only make Seattle Now because listeners support us. You have the power! Make the show happen by making a gift to KUOW: https://www.kuow.org/donate/seattlenowAnd we want to hear from you! Follow us on Instagram at SeattleNowPod, or leave us feedback online: https://www.kuow.org/feedbackEditor's Note: This episode originally said Councilmember Pedersen didn't respond to our request for an interview. It has been updated to reflect that he did respond, but we were not able to interview him before the episode aired.