US EditionGov. Ferguson announces support for tax on state's millionaires
The 9.9% tax on incomes over $1 million aims to raise $3 billion annually for education and tax relief, targeting 0.5% of Washington residents, Gov. Ferguson said.
- On Tuesday, Gov. Bob Ferguson announced his support for a 9.9% state income tax on people earning more than $1 million annually while releasing his proposed 2026 supplemental budget.
- Ferguson argued the change is needed to rebalance the tax system, saying families in the bottom 20% pay 13.8% while the top 1% pay 4.1%, with momentum from national tax politics this year.
- The plan targets incomes over $1 million and would be indexed to inflation; backers say it could raise at least $3 billion annually and affect.5% of Washingtonians, though proceeds likely wouldn’t arrive until 2029.
- State GOP leaders warned of lawsuits, with Washington State Republican Party chairman Jim Walsh calling it "a joke" and Rep. Travis Couture saying, `We don't have a revenue problem`.
- With both houses controlled by Democrats, passage may be more feasible as supporters cite November 2025 elections and polling to reverse the statutory ban on income taxes enacted in 2024.
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12 Articles
Gov. Ferguson says he wants to see a ‘millionaires’ tax’ in Washington state
Washington state hasn’t really had an income tax for nearly a century, but that might be about to change.Since Donald Trump’s reelection and tax cuts in the so-called “Big, Beautiful Bill” this year, momentum has been building on the left around a so-called “millionaires’ tax:” a tax on incomes over $1 million.On Tuesday, Gov. Bob Ferguson said he wants to see such a proposal next month and would work with Democrats to make sure it passes.At a b…
washingtonstatestandard.com
Lynnwood TimesFerguson backs income tax on WA residents earning over $1M • Washington State Standard
Gov. Bob Ferguson in a media availability after signing the budget on Tuesday, May 20, 2025. (Photo by Jacquelyn Jimenez Romero/Washington State Standard)Washington Gov. Bob Ferguson on Tuesday threw his support behind a proposed income tax on residents earning more than $1 million annually, and said he’s prepared to sign the policy into law next year. Some legislative Democrats are eyeing a 9.9% “millionaires tax” on adjusted annual gross inco…
Gov. Ferguson says he wants to see a 'millionaires' tax' in Washington state
Since Donald Trump’s reelection and tax cuts in the so-called “Big, Beautiful Bill” this year, momentum has been building on the left around a so-called “millionaires’ tax:" a tax on incomes over $1 million.
Ferguson expresses support for income tax on millionaires in Washington
OLYMPIA – Gov. Bob Ferguson said Tuesday he supports a state income tax on those who make more than $1 million a year. The proposal, he said, would be tied to reducing sales taxes on baby and hygiene items, expanding the working families tax credit, increasing K-12 school funding, and lowering the key tax rate for small businesses.
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