Gov. Inslee suggests 'wealth tax' to avoid deep budget cuts

Outgoing Washington Gov. Jay Inslee is proposing a tax on personal wealth above $100 million in hopes of plugging a budget shortfall and averting cuts to education, mental health services, and police, he announced at a press conference on Tuesday.

The tax would apply to about 3,400 residents — Microsoft founder Bill Gates among them — and bring in $10.3 billion over four years, the Democratic leader said.

A spokesperson for Washington’s Democratic governor-elect, Bob Ferguson, said he is reviewing Inslee's proposal. Inslee said the budget shortfall is estimated at $16 billion over four years.

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Jackie Kent

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