Senate Democrats unveiled new revenue proposals Thursday as the state Legislature prepares to negotiate a 2025-27 budget and fill a multibillion-dollar budget gap.

Washington Senate Democrats are proposing new taxes on the wealthy to combat a projected $13 billion budget deficit.

Senate Democrats have unveiled a plan to raise billions of dollars amid a deep budget shortfall by taxing Washington’s wealthiest residents through what is called a "financial intangibles tax," allowing property tax increases to be set by inflation and population growth,