Washington state Governor Bob Ferguson on Tuesday called on the state legislature to craft a 9.9% tax on personal income over $1 million, which would be a major shift for the state's revenue system, which relies heavily on sales and property taxes. Ferguson also said that millionaires in Washington state should contribute to a shared prosperity so the state can meet the needs of its residents and for its system to be fair. He added that Washington is facing a cost-of-living crisis and the time has come to change its old and inequitable tax system. Despite his fellow Democrats failing for decades to pass an income tax, Ferguson said that 'the circumstances now are different'.
Washington Governor Proposes 9.9% Tax for Millionaires
Washington state Governor Bob Ferguson is pushing for a 9.9% tax on income over $1 million to address the cost-of-living crisis and reform the state's tax system.