Back to today’s briefing

Story perspectives

Washington Democrats Approve $3.5B Tax on Millionaires

3/13/2026

45 7 Full Breakdown

Center

Democrats Pass Tax

On March 10, 2026, Washington Democrats passed an income tax bill targeting households earning over $1 million.
The bill passed 51-46.
Republicans argued the tax is unconstitutional, and Democrats argued it will fund public services, including education.
The tax takes effect January 1, 2028, and is projected to generate $3.5 billion to $4 billion annually.
Governor Bob Ferguson supports the bill and expects legal challenges.

Left

Governor Advocates Millionaire's Tax

Governor Dan McKee and Helena Buonanno Foulkes back a millionaire’s tax, proposing a 3% surtax on income over $1 million.
Foulkes ties her housing plan to the tax to tackle Rhode Island’s housing shortage.
Providence Chamber of Commerce says the tax could harm small businesses and backs a 2% five-year tax cut.
Polls show Democrats support the millionaire’s tax.
Legislative leaders are cautious awaiting discussions on competing tax proposals.

1 of 2

Democrats Pass Tax

On March 10, 2026, Washington Democrats passed an income tax bill targeting households earning over $1 million.
The bill passed 51-46.
Republicans argued the tax is unconstitutional, and Democrats argued it will fund public services, including education.
The tax takes effect January 1, 2028, and is projected to generate $3.5 billion to $4 billion annually.
Governor Bob Ferguson supports the bill and expects legal challenges.

1 / 2