Notice of Introduction for Senate Bill 6093 - Update: 10 Year Analysis Complete

Office of Financial Management

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UPDATE: The 10 year analysis for SB 6093, titled AN ACT Relating to enacting an excise tax on large operating companies on the amount of payroll expenses above the minimum wage threshold of the additional medicare tax to fund services to benefit Washingtonians and establishing the Well Washington fund account, has been completed. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

Fiscal
Year

   High Earners Payroll Tax

 

2026

$0

2027

$0

2028

$7,567,000,000

2029

$4,275,000,000

2030

$4,521,000,000

2031

$4,794,000,000

2032

$5,089,000,000

2033

$5,400,000,000

2034

$5,724,000,000

2035

$6,065,000,000

 

Total:

$43,435,000,000


Ten-year projection prepared in consultation with the following agencies:

Employment Security Department


Bill sponsors and contact information:

Senator Rebecca Saldaña, Prime Sponsor
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov

Senator Liz Lovelett
Democrat
(360) 786-7678
liz.lovelett@leg.wa.gov

Senator Emily Alvarado
Democrat
(360) 786-7667
Emily.Alvarado@leg.wa.gov

Senator Noel Frame
Democrat
(360) 786-7670
noel.frame@leg.wa.gov

Senator T'wina Nobles
Democrat
(360) 786-7654
T'wina.Nobles@leg.wa.gov




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp