In this legislative update, Sen. Phil Fortunato, R-Auburn, explains why Washington’s proposed income tax, Senate Bill 6346, is anything but harmless. For years, Washington promoted itself as a great place to live and do business because it had no personal or business income tax. That changed with the adoption of the capital gains tax.

Now, lawmakers are pushing even further with a new income tax aimed at so-called “millionaires.” Fortunato breaks down why this approach doesn’t work in the real world. When taxes go up, revenue projections fall short. High-income earners leave the state, taking jobs, investment, and billions in tax revenue with them. At the same time, government spending continues to rise, leaving working families and small businesses to make up the difference. As Fortunato explains, taxing “the other guy” almost always ends up hitting your own pocketbook.