Washington State's Millionaire Tax: Legal Battles Ahead
Seattle News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Washington States First Income Tax in a Century Faces Legal Challenges and Political Battles
Washington state is on the brink of implementing its first income tax in nearly a century, with a 9.9% tax on households earning over $1 million. Governor Bob Ferguson is set to sign the bill, aiming for collections to start in 2029. However, opponents are preparing lawsuits and ballot fights to block the tax. Legal challenges are expected, with foes planning to sue based on a 1933 Supreme Court ruling against a similar tax. They may use small business owners and tech entrepreneurs as plaintiffs, aiming for a quick ruling. Historically, voters have not favored income taxes, with previous attempts failing. Opponents are divided on their next steps, considering a referendum or a full initiative. Supporters anticipate a PR war, as the tax battle is far from over, with courts, voters, and politics all in play.
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