Washington voters to decide on Initiative 645 regarding income tax

Washington state voters will decide on Initiative 645 this November, according to the Tax Foundation. The ballot measure would reverse a decision made by the state legislature and prevent a new income tax on high earners from taking effect. [1]

The Tax Foundation reported that the state income tax on high earners is not scheduled to take effect until 2028. However, the law is already generating significant activity across the state prior to the vote. [1]

A date has been scheduled for oral arguments in a constitutional challenge to the new tax law, according to the Tax Foundation. Additionally, one Washington state lawmaker recently proposed lowering the income tax threshold to as low as $250,000. [1]

An income tax is imposed on individuals or entities based on the profits or income that they earn, and the computed rate generally varies depending on characteristics of the taxpayer. As FTMQ Politics reported earlier, tax policy remains a central focus on state ballots this election season. [3][5]