SURPRISE: Wealth Tax Passes Washington Senate

Wealth tax queen right here

In an unexpected move, Sen. Noel Frame (D-Seattle) called for a vote on her wealth tax proposal, which would levy 0.5% tax on intangible assets above $50 million to benefit public schools, in the final hours of Washington’s 69th Legislative Session. The move defies Governor Bob Ferguson’s incessant micromanaging of the Democrats’ revenue package in which he demanded the Democrats scrap their initial $4 billion wealth tax and gave them permission to pass a measly $100 million wealth tax. But Frame didn’t stand for a fairer tax code or a well funded education system alone — her caucus came out in strong, impassioned support. Take that, Ferguson. 

In the vote, only Senate Democrats broke ranks and voted against the bill: Sens. Drew Hansen (D-Bainbridge), and a real pain in the party’s neck this session, Marko Liias (D-Edmonds). 

The House did not make a last minute effort to vote on the proposal in their chamber, so it died with the Senate.