Washington state voters will have the chance to weigh in on a new income tax in November. The Secretary of State’s office certified Initiative 645, which would impose a tax on households with earnings greater than $1 million a year. The initiative was certified after 509,365 signatures were submitted and more than 80% were validated.
Background
The income tax law was signed by Democratic Governor Bob Ferguson in March, with collections set to begin in 2029. However, the law’s opponents, including Ferguson, have kicked off a campaign to defeat the measure, arguing that without the estimated $3 billion a year in revenues from the income tax, the state would need to find other sources of money to pay for tax relief provisions.
Proponents of the initiative, including Brian Haywood, founder of Let’s Go Washington, argue that the tax is necessary to make life more affordable for Washingtonians. Haywood criticized Ferguson and State Senator Jamie Pedersen for not putting the measure on the ballot themselves.
A potential legal battle is looming, with the State Attorney General required to release a Public Investment Impact Disclosure Statement by July 23rd. This statement will outline the top three categories of state services that would be affected if the initiative is approved.
Original reporting: Clark County Today (Vancouver WA) — read the source article.
