In 'Most Regressive' State, Seattle Passes Tax On Highest Incomes
The tax on individuals earning over $250,000 will generate an estimated $140 million in new annual revenue. Seattle's mayor says it will help replace funds cut by President Trump's "austere budget."
Washington state's tax system has been called the most regressive in the country, as the state collects no income tax nor do any of its cities. But Seattle is looking to change that: On Monday, its city council passed an income tax on its highest earners.
