Two bills: HB1297 and HB 1406 would shift the current tax code to a more fair system.

ITwo bills that have public hearings this week would shift the current upside-down tax code in Washington to a more fair system, while generating more revenue for the state. One bill is HB 1297, concerning working families tax exemption. The other is HB 1406, creating the Washington state wealth tax and taxing extraordinary financial intangible assets. Currently, the lowest-income people in Washington pay six times as much state and local tax as the wealthiest people in the state. Also, nine of the world’s wealthiest people live in the state, with assets ranging from $2.7 billion to $179 billion. Ask your representatives to support moving both HB 1297 and HB 1406 out of the House Finance Committee.

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