OLYMPIA — Washington’s state House launched into a final debate Monday on a proposed new state income tax on high earners, with a vote expected to stretch late into the night.
Republicans and some Democratic critics queued up about 80 amendments, seeking to alter or undermine the deal blessed by Gov. Bob Ferguson and Democratic legislative leaders.
But one by one, the Democratic majority voted down all but minor tweaks, seeking to approve the seismic shift to Washington’s tax system. The state is one of just nine that does not currently levy a personal income tax.
The proposal, which Democrats call a “millionaires tax,” would create a state income tax of 9.9% on personal earnings of more than $1 million a year. It would apply to roughly 30,000 taxpayers starting 2028, with the first payments due in 2029. Only the portion of a taxpayer’s income above the $1 million threshold, which would rise with inflation, would be taxed.
“This is a tax on millionaires… that only one quarter of one percent of Washingtonians are going to pay,” said state Rep. Sharlett Mena, D-Tacoma.
Continue reading this story in the Seattle Times.