Washington Lawmakers Approve Millionaires Tax
Washington State has enacted a 9.9% tax on annual income exceeding $1 million, a measure that passed both the House and Senate and is slated for the governor’s signature. This “millionaires tax” is projected to generate billions annually, funding crucial state programs for low-income families, children, and small businesses, while also addressing historic tax code imbalances that disproportionately burdened lower-income residents. Despite Republican opposition and over 60 proposed amendments, Democratic lawmakers successfully passed the bill, which will take effect on January 1, 2028, and is seen as a significant victory for labor and grassroots movements.
John Q. Hosedrinker