Millionaire tax no more? Rightwing groups lead effort to repeal Washington state law

A measure to repeal Washington state's "millionaire tax" is heading to the November ballot. This tax, which applies to earnings above $1m, was signed into law in March and imposes a 9.9% income tax. If repealed, it would mark a significant shift in the state's tax policy, potentially benefiting high-income earners. The outcome of this ballot measure will be closely watched, as it could have implications for the state's budget and economic policies.

Why it matters

The repeal of the millionaire tax could lead to a decrease in tax revenue for Washington state. This decrease in revenue could impact the state's budget and spending plans.

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