Are you a Washington millionaire? You might want to make plans to be at Capitol Hill’s Kerry Hall this weekend to learn about efforts to create a new “Millionaires Tax” in the state and other updates from this year’s session in Olympia during the annual 43rd Legislative District Town Hall:
43rd Legislative District Town Hall
Saturday, February 21 1:00-2:30 PM
Kerry Hall, 710 E Roy
Join Sen. Pedersen, Rep. Shaun Scott, and me at a 43rd District Town Hall on February 21 at 1:00pm. We’ll be at Kerry Hall (710 E. Roy Street, Seattle, WA 98102) and we’d love to see you there. No RSVP is required!
This week, the 43rd’s Sen. Jamie Pedersen led his fellow legislators in a narrow vote approving a bill that would create a 9.9% tax on income above $1 million. The bill now moves onto the House of Representatives. If approved there, it would likely face more than a few legal challenges before becoming law in 2028.
“The Department of Revenue estimates that the Millionaires Tax would generate $3.7 billion annually by asking roughly 20,000 of the wealthiest households in the state to pay a 9.9% tax on income above $1 million,” Pedersen said in an announcement of the passage. “Households with incomes of $1 million and below would pay nothing.”
CHS reported here last year on a town hall from 43rd District Rep. Shaun Scott at Seattle First Baptist Church raising support for a new tax on high earners. In December, Scott unveiled a “Well Washington Fund” proposal that would spread a tax similar to Seattle’s JumpStart tax across state.
Scott has said he supports the Pedersen bill though it falls far short of more aggressive progressive revenue alternatives like his Well Washington proposal.
You can ask them both to elaborate Saturday at Kerry Hall.
