“The Washington State House Finance Committee made revisions to a proposed income tax after a group of progressive lawmakers said the previous version gave away too much while not doing enough for working families.
“A tax break that would have benefited big businesses has been removed from the latest version of a bill to tax incomes more than $1 million is being advanced by Democratic leaders. A group of 13 progressive lawmakers in the House pushed for those provisions to be stripped.”
The 1930 statute states that we can’t have a “graduated tax on property”. Since then, it has been accepted that income/money was part of that property definition. The state supreme court overturned that in 2023 when we instituted a state capital gains tax. Their new ruling is that a tax on the transaction of goods or capital does not constitute a tax on ownership of same. That means income is taxable.