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Business Leaders Fear Mass Exodus Following House Income Tax Vote
The new tax targets personal income over $1 million, sparking warnings from business groups about threats to small businesses and economic competitiveness.
- On Tuesday, the Washington State House of Representatives approved Senate Bill 6346, enacting the state's first-ever income tax on annual personal income exceeding $1 million after a roughly 24-hour debate.
- Democrats argued the measure helps small businesses by expanding a B&O tax exemption for very small firms, while House Republican Leader Drew Stokesbary, R-Auburn, questioned whether lawmakers should decide constitutionality.
- Because the House adopted significant amendments, the bill returned to the Senate for final concurrence. The National Federation of Independent Business criticized carve-outs favoring hospitals and large physician groups over smaller practices.
- Business groups urged state leaders to pursue a sustainably managed budget and competitive tax code as Governor Ferguson indicated he will sign the measure. On the same day, former Starbucks CEO Howard Shultz announced he and his wife moved to Florida.
- Critics warned the income tax could expand beyond high earners and trigger additional increases next year, while the legislative session is scheduled to wrap up on Thursday. House Republican Leader Stokesbary maintained courts, not lawmakers, should determine constitutionality.
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Business leaders fear mass exodus following House income tax vote
(The Center Square) – The day after majority party Democrats in the Washington State House of Representatives passed, after a 24-hour debate, a tax on annual personal income exceeding $1 million, business organization across the state are sounding the alarm.
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Leaning Left0Leaning Right1Center1Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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