(The Center Square) – Let’s Go Washington launched an initiative campaign Tuesday aimed at repealing Washington’s new income tax.
As reported by The Center Square, LGW last Friday secured ballot titles and numbers for several different initiatives targeting a repeal of the “millionaire’s tax”, but today the organization announced they had narrowed it down to a signature gathering campaign for IP26-645.
“Everybody at home is saying my property taxes have gone up, my car tabs have gone up crazy, my gas taxes are out of control, and Olympia just wants more and more and more,” said LGW Founder Brian Heywood in a Tuesday press conference.
“We don’t care how you define it, income tax is illegal in this state,” he said.
The group will need to secure nearly 309,000 valid voter signatures by July 2, but they will seek to gather many more than that to account for duplicates and other signatures that may be challenged.
“LGW has 51 days to gather 400,000 signatures, a goal supporters are confident they can reach. In 2024, LGW gathered 540,000 signatures in 45 days to qualify I-2066 for the ballot,” wrote LGW in a news release.
I-2066 was an initiative to ensure natural gas remains an energy choice.
“We are extremely confident that we’ll be able to do this,” Heywood said. “It’ll be on the ballot.”
Senate Bill 6346 is the new law that imposes a 9.9% tax on annual income above $1 million starting in 2028, due on 2029 tax returns.
It is estimated to bring in between $3 and $4 billion per year, however critics suggest the tax will not generate nearly that amount as wealthy Washingtonians and business interests flee the state to avoid the penalty.
Heywood said the initiative they are running would keep provisions in the law to expand the Working Families Tax Credit and to provide tax relief for more businesses, as well as retain the sales tax on diapers and other products spelled out in SB 6346.
LGW’s initiative also defines “income” such that there can be no lack of clarity about what constitutes income in the future.
“So, they can’t play games with it,” Heywood said. “So structurally now it will be in the code which makes it much harder for the legislature to monkey around and try to thwart the people and insert this income tax.”
In response to LGW’s initiative announcement, Invest in WA Now sent The Center Square a statement.
“Polling shows Washingtonians overwhelmingly support fixing Washington’s upside down tax code, with 60% supporting the Millionaires Tax to fund education and health care,” the statement said.
“If hedge fund mega-millionaire Brian Heywood and Let’s Go Washington move ahead to try to repeal the Millionaires Tax intended to make life a little more affordable for 99% of Washingtonians, voters will once again reject his ballot initiative.”
