Seattle Mayor Wilson Dismisses 44% Business-Leader Exit Fears Over 9.9% Millionaire Tax
Updated
Updated · Fox News · Jun 8
Seattle Mayor Wilson Dismisses 44% Business-Leader Exit Fears Over 9.9% Millionaire Tax
2 articles · Updated · Fox News · Jun 8
Summary
Katie Wilson said claims of a broad wealthy exodus from Washington are "overblown," rejecting concerns tied to the state’s new 9.9% tax on households earning more than $1 million.
A recent Association of Washington Business survey found 44% of business leaders are considering moving their personal residence out of state, and firms are more than twice as likely to expand outside Washington than within it.
Wilson argued her administration has built stronger business ties than critics suggest, pointing to support from Starbucks, T-Mobile and Microsoft for a 90-unit tiny-house village in South Park Cloverleaf due to open later this summer.
The tax, passed by Democrats in March and signed by Gov. Bob Ferguson on March 30, is Washington’s first income tax and has become a flashpoint between progressive leaders and business critics.