Microsoft president says new proposed business taxes in Washington state will weaken tech sector
Portfolio Pulse from
Microsoft President Brad Smith criticized proposed Washington state tax measures, including a 5% payroll tax on large employers and a financial intangibles tax on wealthy individuals. Smith argues these taxes could harm the tech industry by increasing job costs, potentially causing job losses and discouraging business growth.
March 21, 2025 | 5:30 pm
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Microsoft directly impacted by proposed 5% payroll tax, warning of potential negative consequences for tech employment and economic growth in Washington state.
Proposed taxes could increase operational costs, potentially reducing Microsoft's ability to hire and expand in its home state, which might negatively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100