Gov. Ferguson to sign millionaires' tax
Fox News · Less Recent
Fox News
Less Recent
Washington state is introducing its first personal income tax, targeting households with annual earnings above $1 million.
Breakdown
- A 9.9% tax will apply to households earning over $1 million annually. 18s
- The tax will take effect in 2028 and fund education and healthcare. 26s
- Supporters say it targets less than 0.5% of residents for tax fairness. 1m 5s
- Opponents argue the bill is unconstitutional and could expand beyond millionaires. 1m 41s
- A signature campaign is underway to challenge the law before July. 2m 0s