Washington State's Millionaires Tax Faces Legal Challenge
Spokane News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Washington states new millionaires tax, set to be signed by Governor Ferguson, imposes a 9.9% rate on income over $1 million. Republicans plan to challenge it in court, with the case potentially reaching the state Supreme Court. The constitutional issue lies in its view of income as property, limiting taxes to a flat one percent. Lawmakers skipped a public vote, hoping the court will reinterpret the rules. If the tax stands, it could open the door to more levies, potentially driving wealthy residents and businesses out of the state.
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