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Washington's Millionaire Tax Plan Aims for $3.4B Boost

2/28/2026

28 7 Full Breakdown

Summary

Story summary

Washington state progressives revised 9.9% millionaire's tax on incomes over $1 million, removing a business tax break.
The House Finance Committee added measures to aid working families, including a diaper sales tax exemption and expanded tax credit.
The plan would raise $3.4 billion annually starting in 2029.
The bill heads to the House floor with a March 6 deadline amid concerns about relief for families and small businesses.

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Story summary

Washington state progressives revised 9.9% millionaire's tax on incomes over $1 million, removing a business tax break.
The House Finance Committee added measures to aid working families, including a diaper sales tax exemption and expanded tax credit.
The plan would raise $3.4 billion annually starting in 2029.
The bill heads to the House floor with a March 6 deadline amid concerns about relief for families and small businesses.