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Washington Senate Approves 9.9% Tax on Millionaires' Income

2/24/2026

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Summary

Story summary

Washington state lawmakers are considering a 9.9% personal income tax on earnings over $1 million.
The Washington State Senate has approved the plan to tax earnings above $1 million, with projected revenue of about $3.7 billion annually.
The Washington House of Representatives must decide on the proposal before March 12, 2026, which would determine funding for public services.
The measure aligns with similar efforts in Oregon and Massachusetts.

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Story summary

Washington state lawmakers are considering a 9.9% personal income tax on earnings over $1 million.
The Washington State Senate has approved the plan to tax earnings above $1 million, with projected revenue of about $3.7 billion annually.
The Washington House of Representatives must decide on the proposal before March 12, 2026, which would determine funding for public services.
The measure aligns with similar efforts in Oregon and Massachusetts.