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Washington passes "millionaires tax" despite concerns of wealth flight

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6 hours ago

Washington state lawmakers on Wednesday passed a so-called "millionaires tax," a move criticism said could lead to an exodus of high-income earners.The State Senate passed the measure with a day left in the 2026 legislative session, following a hotly contested 24-hour marathon in the State House. The bill would impose a 9.9% tax on income over $1 million for individuals or couples in a household.The funds generated from the tax would address the state budget, which is currently dealing with a multi-billion dollar deficit, Fox Seattle reported. KEN GRIFFIN'S FLORIDA TAKEOVER: CITADEL FOUNDER SH...

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6 hours ago
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