Jamie Peterson 2.8 3 ideas

Washington State Senate passed a bill for a 9.9% tax on income over $1M. Senator Peterson argues this makes WA "much more like most of our peer states." The lack of state income tax was a primary moat for Washington-based mega-caps to attract executive talent. A 9.9% levy on top earners could trigger a talent drain to zero-tax states (TX/FL) or force these companies to significantly increase executive compensation to net the same pay. Watch for potential HQ relocations or executive churn if the bill becomes law. The bill may fail in the House or be struck down by state courts; Peterson claims business taxes are being lowered simultaneously to offset this.