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Business Leaders Fear Mass Exodus Following House Income Tax Vote
The tax targets annual income over $1 million to support small businesses through expanded exemptions, but faces opposition citing constitutional and economic competitiveness concerns.
- On Tuesday, the Washington State House approved Senate Bill 6346, creating the state's first-ever income tax on over $1 million after a roughly 24-hour debate.
- Opponents warned the tax would weaken competitiveness and some Republicans questioned whether courts should decide, while Democrats argued it would help small firms by expanding a B&O exemption.
- Because the House adopted significant amendments, it returned to the Senate for final concurrence, drawing criticism from the National Federation of Independent Business and business groups.
- The business community and statewide chambers urged leaders to protect competitiveness as the measure advanced, and Howard Shultz, former Starbucks CEO, announced his move to Florida on the same day.
- Critics warned the tax could expand beyond high earners and that courts should decide its constitutionality as the legislative session wraps up Thursday.
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Business leaders fear mass exodus following House income tax vote
(The Center Square) – The day after majority party Democrats in the Washington State House of Representatives passed, after a 24-hour debate, a tax on annual personal income exceeding $1 million, business organization across the state are sounding the alarm.
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Leaning Left0Leaning Right1Center1Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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