Story perspectives

AI Founder Scouts New Hubs After Washington’s Millionaires Tax

5/3/2026

Summary

Story summary

AI startup founder Jesse Proudman announced he is scouting Nevada, Texas, Nashville, and Florida as bases after Seattle’s tax hikes.
Washington state enacted a March millionaires tax, the first state income tax, which could push entrepreneurs out of Seattle.
Proudman warned Senator Jamie Pedersen may broaden the tax to all residents, potentially making Washington the nation’s highest-tax state.

History

Historical Context

California’s 1978 Proposition 13 slashed property taxes, cutting local revenue by roughly 60% and locking assessments at purchase values with a 2 % annual cap. The measure also required a two-thirds legislative majority for future tax hikes, sparking a taxpayer revolt that helped fuel national anti-tax sentiment in the early 1980s. Washington’s 2023 millionaires tax, championed by Senator Jamie Pedersen, evokes the same fear of a tax-driven exodus.

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Story summary

AI startup founder Jesse Proudman announced he is scouting Nevada, Texas, Nashville, and Florida as bases after Seattle’s tax hikes.
Washington state enacted a March millionaires tax, the first state income tax, which could push entrepreneurs out of Seattle.
Proudman warned Senator Jamie Pedersen may broaden the tax to all residents, potentially making Washington the nation’s highest-tax state.

1 / 2