Washington State Passes Millionaire Tax
Seattle News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Washington State Passes Millionaire Income Tax: A New Era of Funding for Education, Healthcare, and Housing
Washington state lawmakers have passed a new income tax bill, Senate Bill six three four six, targeting households earning over one million dollars annually. Starting in 2028, this 9.9% tax will generate at least three billion dollars yearly, benefiting education, healthcare, and housing. Despite concerns of wealthy individuals and businesses leaving, studies show high taxes rarely cause significant migrations among the rich. Legal challenges and potential repeal votes remain, but this bill could bring balance to Washingtons budget and improve services for everyday people.
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