OLYMPIA, Wash. – Washington's two most influential companies are now officially opposing Initiative 1098, which would establish an income tax for wealthier Washingtonians.
In a statement released Wednesday, executives for the Boeing Co. and Microsoft Corp. say I-1098 would harm businesses by raising costs for suppliers and making it harder to attract talent.
Other Washington businesses also signed on to the statement. But the campaign for I-1098 says that doesn't reflect all of Washington's business community, and contradicts business demands for a better education system.
I-1098 would institute state income taxes on couples making more than $400,000, or $200,000 for individuals. The money would be directed toward state education and health programs.