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Taxes

Community Voice

Millionaires' tax / income tax on high earners

During the 2026 legislative session, Washington state enacted a tax on incomes over $1 million, a significant policy shift for a state that has historically lacked a personal income tax. Governor Ferguson championed the measure, framing it as a way to fund expanded Working Families Tax Credits, affordable childcare, and free school meals for K-12 students. The tax affects less than half of one percent of Washingtonians and is aimed at addressing the state's regressive tax structure.

Should Washington state tax personal incomes over $1 million?

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Sources

Governor Bob Ferguson — https://governor.wa.gov/news/2026/governor-ferguson-comment-2026-legislative-session
In my State of the State, I called for something truly historic — a tax on incomes over $1 million, paid by less than one half of one percent of Washingtonians. The Legislature delivered. Now, we have a Millionaires' Tax that sends money straight back to Washington families by expanding the Working Families Tax Credit to 460,000 additional households, and provides substantial relief for small business owners.
Washington State Standard — https://washingtonstatestandard.com/2026/01/12/was-2026-legislative-session-is-getting-underway-will-anyone-be-smiling-when-its-over
Ferguson delivered arguably the session's biggest news before the opening day gavel.
Washington Office of Financial Management — https://ofm.wa.gov/wp-content/uploads/Proposed_2026_Supplemental_Budget_Policy_Highlights.pdf
Washington's tax system was built nearly a century ago. It has not kept up with rapid population growth, higher costs for core services, and the pattern of federal decisions that have shifted responsibilities to states without providing matching funding.
Positions on this issue  ·  liberal → conservative
  1. Strongly support a millionaires' tax and expand it to fund universal public services like childcare and education.
  2. Support the millionaires' tax as a fair way to fix WA's regressive tax system and fund working families.
  3. Support a limited income tax on the very wealthy only if revenue is strictly tied to specific budget needs.
  4. Oppose new income taxes but support closing targeted corporate loopholes to raise some revenue.
  5. Oppose any income tax in Washington; the state should balance its budget through spending cuts alone.