“I still think that claims of a large exodus of rich people due to our statewide millionaire tax that the legislature passed this year are overblown.”
Seattle’s mayor is denying that Washington’s new tax policy could drive wealthy residents and companies out of the state, even as a new survey suggests a significant portion of business leaders are considering relocation. In an interview Wednesday, Seattle Mayor Katie Wilson downplayed fears that high earners are preparing to leave following the introduction of a state-level “millionaire’s tax.”
The policy imposes a 9.9% income tax on households earning over $1 million annually and was signed into law on March 30 by Democratic Gov. Bob Ferguson.
“So today, do you still feel the narrative of the rich leaving is still overblown,” FOX 13 Seattle co-anchor Hana Kim asked Wilson.
“So, I still think that claims of a large exodus of rich people due to our statewide millionaire tax that the legislature passed this year are overblown,” Wilson responded with a chuckle. “I do believe that.”
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Wilson said she has been working to maintain relationships with major companies and business leaders since taking office, arguing that public criticism of her approach has not reflected on-the-ground engagement with the private sector.
“When I think about the last five months and the things that I and my administration have done to build bridges with the business community, the narrative that was spun around those things is very, very out of step with the reality.”
She also pointed to corporate involvement in a planned housing project, noting that major firms are contributing funding for a shelter development in South Park Cloverleaf scheduled to open later this summer.
“And so these are all like — so this narrative that it’s like Seattle socialist mayor versus Starbucks, like well, then why are they donating a million dollars to our shelter site?” Wilson asked.
She added that her administration has not sought full alignment with the business community but aims to maintain working relationships despite policy disagreements. “So, you know, the attitude that I have tried to come in with into office toward the business community is, ‘Look, we’re not going to agree on everything,’ right,” she said.
A recent survey of Washington business leaders cited by The Center Square and conducted by the Association of Washington Business found that 44% are considering moving their personal residence out of state. The same survey indicated businesses are more than twice as likely to pursue expansion outside Washington compared to within it.
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