WA INITIATIVE 645 MILLIONAIRE TAX
OLYMPIA, Wash – Early results show Washington voters are so far rejecting a measure that would overturn the state’s so-called Millionaires Tax.
Initiative 645 repeals the tax signed into law in March. It takes effect in 2028 and applies a 9.9% tax for households earning more than $1 million.
It also prohibits the state from enacting future taxes on individual income.
The measure, backed by Let’s Go Washington, is also backed largely by the Washington Education Association and other public employee unions. Supporters say the tax, as enacted, impacts pension funds.
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