Washington State Lawmakers Pass New High-Income Tax: A Deep Dive into Senate Bill 6346
Lawmakers in Washington state have passed a new high-income tax, Senate Bill 6346, targeting the wealthiest residents earning over $1 million annually. The 9.9% rate will take effect in 2028, generating billions for schools, housing, and healthcare. Supporters argue it wont impact middle-class families, while critics worry it could drive away jobs and wealthy residents. The tax is part of an $80.2 billion supplemental operating budget, and debates on its long-term effects continue.
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