Billionaire exodus warnings are growing louder as prominent business leaders continue leaving California amid looming tax proposals set to take effect in 2026.
Washington State Senator Rebecca Saldaña (D-Seattle) has introduced a bill that would allocate state funds to provide unemployment benefits to illegal immigrants, despite the state's $10-17 billion budget deficit. The proposed legislation, SB 5023, aims to create a separate program for workers ineligible for federal unemployment insurance due to their immigration status.
Senate Democrats in Washington are advocating for new taxes to address a looming $16 billion budget shortfall, as revealed in a leaked email sent by Sen. Noel Frame (D-Seattle). The email, sent shortly after Governor Jay Inslee’s announcement of the shortfall, outlines additional taxes beyond those proposed by Inslee, which include a new wealth tax, a temporary 20% business surcharge, and an increase in business and occupation (B&O) tax rates.
"I'm in favor of an international taxation to finance efforts that we have to make to fight poverty and in terms of climate [action]…It doesn’t work when you do it alone, the [financial] flows go elsewhere," Macron said.
