Seattle Mayor Katie Wilson recently addressed concerns regarding the potential departure of wealthy residents and businesses from Washington state following the implementation of a new millionaire tax. During an interview, Wilson described the fears as ‘overblown,’ maintaining that the narrative of a mass exodus is not reflective of reality.

Business Community’s Response

In March, Washington state Democrats introduced a 9.9% income tax on households earning over $1 million annually, marking the state’s first income tax. This legislation, signed by Democratic Governor Bob Ferguson, has been met with opposition from conservatives who argue it could drive businesses and affluent individuals out of the state.

Despite these concerns, Wilson emphasized her efforts to foster positive relationships with the business community. She highlighted contributions from major companies like Starbucks, T-Mobile, and Microsoft, which are supporting a new tiny house village project in South Park Cloverleaf, set to open later this summer.

Survey Highlights Business Concerns

A survey conducted by the Association of Washington Business revealed that 44% of business leaders are contemplating moving their personal residences out of state. Additionally, businesses reportedly feel more inclined to expand operations outside of Washington rather than within it.

Wilson, however, remains optimistic about her administration’s approach, stating that while disagreements with the business community are inevitable, constructive dialogue and collaboration are ongoing. She pointed to the significant donations from local companies as evidence of continued investment in Seattle’s community initiatives.

Fox News Digital reached out to Mayor Wilson for further comments but did not receive an immediate response.

Original reporting: Fox News (HLL/CB) — read the source article.