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Washington Senate Passes SB 6,346, a New Tax on Incomes Above $1 Million
Summary
The Washington State Senate approved engrossed Substitute Senate Bill 6,346 after lengthy floor debate and multiple amendment votes; supporters say it will raise billions for schools, health care and housing while opponents called it unconstitutional and warned of economic harm.
The Washington State Senate voted to pass engrossed Substitute Senate Bill 6,346, a proposal that would impose a graduated tax on personal income above $1,000,000, after extended floor debate and several amendment votes. The roll call showed 27 yeas and 22 nays; the President declared the bill passed.
Sponsor Senator Peterson, speaking in favor of the bill, said the measure would provide a sustained revenue source for K‑12 schools, health care, higher education and other government services. "This tax on 20,000 of our most fortunate neighbors would raise 3 and a half billion dollars a year to make those kinds of investments,"…
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