www.foxbusiness.com
Washington Governor Bob Ferguson has proposed a 9.9% income tax on residents earning over $1 million annually, aiming to address the state’s low tax fairness ranking. While the governor claims the revenue would fund education and cut taxes for low-income families, Washington GOP Chairman Jim Walsh warns the move could eventually lead to a broader income tax for all residents.
Critics, including the Tax Foundation, argue the policy targets high earners and tech workers, potentially driving jobs and economic activity to other states. Walsh contends the tax is unconstitutional because it singles out a specific income group.
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