Washington State Debates New Millionaire Income Tax Proposal

State leaders are pushing a 9.9% tax on high earners to fund tax relief, marking a significant shift as Governor Bob Ferguson moves from initial opposition to backing a revised version of the plan.

4 articles·February 3 – March 6, 2026

Key Points

Washington state Democrats introduced a proposal for a 9.9% tax on annual incomes exceeding $1 million.
The measure aims to generate $3.7 billion annually to fund small business tax breaks and the Working Families Tax Credit.
The policy would impact approximately 30,000 top earners, potentially ending the state's long-standing absence of an income tax.
Governor Bob Ferguson and other state leaders are actively debating the implementation and structure of the proposed tax.

4 News·Tue, Feb 3 – Today

News

Ferguson back on board with WA millionaire tax

Axios

News

Millionaire Tax Tests a State's 93-Year Aversion to Income Levy

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News

Why Washington's income tax ban won't block a millionaire tax

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