US EditionA New State Payroll Tax Could Drive Jobs out of Washington
- Washington lawmakers are proposing a new 5 percent payroll tax on employee earnings over $1 million, which may cost businesses $2.3 billion annually.
- Seattle reported $47 million less in payroll tax revenue than expected for 2024, prompting concerns from city officials about budget deficits.
- Microsoft President Brad Smith expressed worries that the new tax could harm the state's tech sector, stating, "If you make jobs more expensive, it becomes harder to keep jobs or to grow jobs here."
- Seattle's Mayor acknowledged business flight, stating, "We know this decrease in revenue is aligned with recent reports of major employers moving thousands of high-paying jobs out of Seattle to other cities in our region.
Insights by Ground AI
Does this summary seem wrong?
3 Articles
3 Articles
All
Left
Center
Right
2
Seattle mayor reveals $47 MILLION payroll tax deficit as companies flee the Emerald City
“We also know this news only adds to significant negative impacts for future years when combined with President Trump’s actions to rescind grants to our city, implement harmful tariffs, and focus on failed economic policies that prioritize the wealthy over working families.”
·Toronto, Canada
Read Full Article
Coverage Details
Total News Sources3
Leaning Left0Leaning Right2Center0Last UpdatedBias Distribution100% Right
Bias Distribution
- 100% of the sources lean Right
100% Right
R 100%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
