A new state bill is set to be introduced in olympia and aims to collect more than $2 billion a year from the likes of amazon and microsoft. The redesigned $10 bill will be the first to enter circulation. How the new proposal would work scott’s bill would create the “well washington fund” to “maintain the economic health” of the state, according to a draft of the legislation
If passed and signed into law, it would take effect july 1, 2026 and generate an estimated $2.2 billion a year, scott said. The rollout of new dollar bills will occur over several years, with specific denominations scheduled for release Shifts more costs onto working people, forcing states to choose between program cuts or new, regressive taxes
Shaun scott of seattle said his bill seeks to mitigate federal funding cuts. Washington democrats propose a new payroll tax targeting amazon, microsoft, and other major employers to raise $2b a year. A new proposal for a payroll tax on large employers is triggering warnings from business groups with a heated budget debate to resume in the 2026 legislative session.
