Sofia Schwarzwalder

Washington’s Proposed 5% Payroll Tax on Large Employers Draws Tech Industry Backlash Amid $16B Budget Shortfall

Washington state Democrats propose a 5% statewide payroll tax on wages exceeding $176,100 for companies with payrolls over $7 million to address a $16 billion budget gap, drawing criticism from CEOs and tech leaders including Microsoft President Brad Smith who warn it could harm the tech sector and drive businesses away.