Washington state has beaten California and New York in their race to soak the rich.
On Thursday, the state Legislature passed a "millionaires tax" along party lines. Starting in 2028, household income over $1 million will be subject to a 9.9 percent income tax.* The money raised from this duty will allow the state to eliminate sales taxes on diapers, over-the-counter drugs, and select hygiene products; provide free school breakfast and lunch; and to generally "fund K–12 education, health care, [and] higher education." Unless Gov. Bob Ferguson unexpectedly vetoes the bill, it will automatically become law in April.
