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‘Truly Historic’: The Washington House Approved an Income Tax on Millionaires After a Marathon Debate
- On Tuesday, the Washington state House of Representatives passed Senate Bill 6346, the 'millionaires' tax', imposing a 9.9% tax on income over $1 million starting in 2029.
- With an overnight session in Olympia, members continued debating into Tuesday morning as Republican lawmakers filed dozens of amendments to delay the bill on the House floor.
- During the debate, Rep. Mike Steele proposed cutting $157 million from the Department of Revenue and capping hires at 100, but Democrats rejected the amendment and others.
- The measure now goes back to the state Senate for concurrence before reaching Gov. Bob Ferguson, who said 'I look forward to signing it', and it must be signed before March 12.
- Longer-Term, less than 1% of Washington's population would be affected by the tax, supporters say it expands the Working Families Tax Credit to 460,000 additional households, while opponents warn of a citizen initiative and potential Washington state Supreme Court challenges.
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35 Articles
35 Articles
Washington state income tax passes House after grueling 25-hour floor debate
After a record-breaking 25-hour-long debate, a proposed income tax on high earners has passed a major legislative milestone, garnering a “yes” vote from the House just as this year’s session winds down.
·Seattle, United States
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Washington House passes 9.9% ‘millionaires tax’ as business leaders warn of ‘seismic shift’
Some tech leaders and entrepreneurs worry the legislation could undermine their sector by souring Washington’s relatively favorable tax laws for startup founders, investors and high-wage earners.
·Seattle, United States
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Washington millionaires tax clears House after marathon debate
·Washington, United States
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Total News Sources35
Leaning Left4Leaning Right3Center15Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 18%
C 68%
14%
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