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Washington Governor Proposes 9.9% Tax on Millionaires

12/24/2025

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Summary

Story summary

Washington Governor Bob Ferguson announced support for a 9.9% income tax on residents earning more than $1 million and aims to sign it into law in 2026.
Revenue is expected by 2029 and would support low- and middle-income households and K-12 education.
Republicans oppose the plan, citing legal precedents and concerns about spending.
The stance shift comes as the legislative session starts January 12, 2026.

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Story summary

Washington Governor Bob Ferguson announced support for a 9.9% income tax on residents earning more than $1 million and aims to sign it into law in 2026.
Revenue is expected by 2029 and would support low- and middle-income households and K-12 education.
Republicans oppose the plan, citing legal precedents and concerns about spending.
The stance shift comes as the legislative session starts January 12, 2026.