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Initiative aiming to repeal wealth tax will appear on November election ballot

Initiative aiming to repeal wealth tax will appear on November election ballot

Courtesy of Let's Go Washington Photo: Contributed


OLYMPIA, WA (MyBellinghamNow.com) – Voters will decide this fall on whether to strike down a new income tax targeting the state’s wealthiest residents.

Let’s Go Washington said the Washington Secretary of State has certified its initiative to repeal the so-called “millionaire’s tax” for the November ballot.

The political action committee said over 80% of the sampled signatures pulled from the more than 500,000 total signatures LGW turned in for I-645 were found to be valid.

The state’s 9.9% tax on individual and household income above one million dollars is set to begin collecting in 2029.

Supporters of the tax say it will help fund education and othe programs, while critics argue it could open the door for a broader income tax for the rest of the state.

The state Supreme Court is still expected to hear a separate challenge to the tax’s constitutionality.

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