OLYMPIA, WA (MyBellinghamNow.com) – The controversial “millionaire’s tax” bill is getting the thumbs up from Gov. Bob Ferguson.
In a statement earlier Friday, March 6, the governor said he intends to sign the latest version of the proposed millionaire income tax bill.
The bill has undergone a couple changes since its introduction to the state legislature, when the governor said a lot of work needed to be done before its passage.
The 9.9% levy on income households make above $1 million still stands and tax credits to small businesses and low-income families have expanded.
The bill has been a source of controversy, with opponents saying that the proposed law would effectively institute a state income tax on all state residents, something that voters have repeatedly shot down.
Ferguson said he would not sign SB 6346 earlier last week.
Two proposed amendments would include adding free school lunch and breakfast for all Washington students and adding over-the-counter medicine to the sales tax exemption.
Currently, SB 6346 is scheduled for the House floor for a second reading. Upon third reading and approval from the House, it would be passed to Gov. Ferguson’s desk.
