Washington Senate Passes Income Tax Targeting High Earners

In Brief

Washington's Senate has approved an income tax on high earners, with the governor expected to sign it.

Key Facts

• The Washington State Senate passed an income tax bill targeting high earners.
• The tax is referred to as a 'millionaires tax' and is set at 9.9%.
• The governor, Ferguson, is expected to sign the bill into law.

What Happened

Washington's Senate approved a 9.9% income tax on high earners, commonly called the 'millionaires tax.' The bill awaits the governor's signature.

Why It Matters

The measure introduces a new tax on wealthy residents in a state previously known for not having an income tax. Supporters and critics are debating its potential economic impact. Based on a single source report

What's Next

The bill is expected to be signed into law by the governor. Observers are watching for possible responses from affected residents and any legal or political challenges.