WATCH: WA income tax signed into law with legal challenge right behind

(The Center Square) – Washington Governor Bob Ferguson signed the income tax bill into law Monday — as opponents ready a legal challenge.

“It’s a historic day for Washingtonians,” Ferguson said during a Monday morning bill signing, flanked by about a hundred mostly union supporters who were given pro-income tax signs to carry during the event.

Supporters of the so-called millionaires’ tax of 9.9% on annual income or combined household income above that threshold each year argue it will ensure that everyone in the state is paying their “fair share.”

Ferguson told supporters that the new revenue, estimated at roughly $3.5 billion a year, will fund K-12 education, health care, higher education and other essential governmental services. The governor said the tax revenue will also extend expansions to the working families’ tax credit for about 460,000 families.

Though the bill has been signed into law, it could be put on hold or repealed as a legal challenge is coming, as well as a...