Washington Gov. Jay Inslee, in his final budget proposal before leaving office in January, proposed a first-in-the-nation statewide wealth tax intended to bolster revenue amid a significant budget shortfall.
Announced on Dec. 17, the proposed 1 percent wealth tax would apply to residents with worldwide net worth exceeding $100 million. This approach marks the first time any U.S. state has sought to levy a tax specifically targeting the richest fraction of its population.
