Seattle Times recommends ‘No’ on I-645, ‘millionaires tax’ repeal

But Initiative 645 does more than take away the 9.9% tax on incomes over $1 million. It maintains a bevy of promised tax credits that, without the income tax to fund them, would dig an even deeper budget hole. And it would prevent legislators from altering any of the initiative’s impacts for two years, absent a supermajority vote. That would come at an economically uncertain time: the last two years of the Trump administration, whose budget cuts have required Olympia to backfill lifesaving social programs; and with the state’s unemployment rate surging to among the highest in the nation.

Read the full editorial by he Seattle Times Editorial Board, in the Seattle Times