A 1% tax would be imposed on wealth over $100 million.
OLYMPIA, Wash. — To address a $12 billion budget gap, Gov. Jay Inslee is proposing a 1% wealth tax on the state’s richest residents, according to a budget proposal released Tuesday morning.
As one of Inslee’s last responsibilities in the governor’s office, he is issuing a proposed budget to the legislature for the 2025-2027 biennium. In it, he urged lawmakers to avoid making cuts that would put the cost burden of filling the budget gap on the lowest-income Washingtonians.
“As legislators consider options for closing this sizable budget gap, I urge them
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