TOO MUCH IS NEVER ENOUGH: Income tax bill passes WA Senate after hours of heated debate.
Senate Bill 6346, dubbed the “millionaires’ tax” by supporters, would impose a 9.9% levy on personal income over $1 million, or on combined household income of more than $1 million.
Opponents, including all Senate Republicans, argue the bill is unconstitutional and will drive wealthy residents and business investment out of the state.
Supporters of the legislation argue it will fix a regressive tax code, fund education and healthcare, and provide tax relief for working families.
…
The legislation would apply the 9.9% tax on business income more than $1 million, and the Chelan County Republican said in his farming business, there are good years and bad years.
Looks like Washington might be in for a run of bad luck.