Washington News Service: A coalition of more than 100 groups, including labor unions and community organizations, has launched the “No on 645” campaign to defend Washington’s Millionaire Tax, which will be on the November ballot.

The new law applies a nearly 10% income tax on household earnings above $1 million.

Sam Hatzenbeler, legislative director for the Economic Opportunity Institute, notes it affects less than 1% of households, who now pay just 4% of their income toward public services like education and healthcare.

“Voters have the opportunity to weigh in on whether we want to see the ultrawealthy continue to get a tax break at the expense of low- and middle-income people. The millionaire’s tax is one of the single best things we can do to help working families and promote small businesses,” Hatzenbeler contended.

Hatzenbeler explained the funds from the tax will go toward expanding the Working Families Tax Credit while cutting a key tax for small businesses. It will also fund healthcare, education and childcare.

Let’s Go Washington, the group behind the push to repeal the tax, argued it will open the door to a broader statewide income tax.

Elana Mainer, executive director of the advocacy group Rural People’s Voice, said the burden of taxes has fallen on the shoulders of working families in the state and it is time for the wealthy to pay their fair share. Mainer encouraged voters to ask who is leading the charge to repeal the Millionaire Tax.

“When I look at who’s behind this campaign, it’s a hedge fund manager, it’s big corporations, it’s data center money,” Mainer outlined. “It’s a whole lot of people who have a whole lot of reason to protect their wealth.”

The Millionaire Tax is estimated to generate around $3 billion in state revenue per year in the next decade, starting in 2029.

–  By Isobel Charle