Creates a 5% payroll tax on large companies for wages paid above $125,000 per employee. Firms with less than $7M in total wages are exempt and employers cannot deduct the tax from worker pay. Money goes to a new Well Washington Fund to support Medicaid, college aid, cash assistance, housing and energy programs, with an oversight board. Citizens may see stronger safety-net services; big employers may face higher costs that could affect hiring and pay.
