Outgoing Washington governor suggests ‘wealth tax’ to avoid cuts to education and police

Associated Press

SEATTLE (AP) — Outgoing Washington Gov. Jay Inslee is proposing a novel tax on wealth above $100 million in hopes of plugging a budget shortfall and averting cuts to education, mental health services and police. The Democrat said Tuesday that the tax would apply to about 3,400 residents — including Microsoft founder Bill Gates — and bring in $10.3 billion over four years. His successor as governor, Democrat Bob Ferguson, did not immediately respond to an email seeking comment but has recently said he would not rule out tax increases to help cover the budget shortfall. Lawmakers in several Democratic-led states, including Washington, have in recent years proposed wealth or other taxes on their richest inhabitants.