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Gov. Bob Ferguson: Senate 'millionaire's tax' a start, but '7% is not close' to returning revenue to Washingtonians
Summary
At a Seattle media availability, Gov. Bob Ferguson praised elements of the state Senate's millionaire's tax proposal that would expand the Working Families Tax Credit and exempt hygiene products from sales tax, but said the plan returns only about 7% of revenue to residents and urged larger small-business tax relief.
SEATTLE — Gov. Bob Ferguson said the state Senate's proposal for a "millionaire's tax" contains provisions he supports but not enough measures that put revenue directly back into residents' pockets.
Ferguson told reporters at a brief media availability in Seattle's International District that he appreciates the proposal as "a good start" but that the roughly 7% of projected revenue the plan would return to Washington households "is not close." He named three elements in the Senate package that would deliver money to residents — changes to the Working Families Tax Credit, a sales-tax exemption for hygiene products, and tax breaks aimed at small businesses — but said those items together amount to only a small share of the total revenue the tax could generate.
Why it matters: The governor framed the debate as a negotiation over how much of any new revenue should be dedicated to tax relief versus other priorities such…
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