Washington State Passes 'Millionaires Tax' After Heated Debate

The new tax would impose a 9.9% levy on income over $1 million annually starting in 2029.

Mar. 22, 2026 at 2:53am

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The Washington State House of Representatives has passed a new 'Millionaires Tax' that would impose a 9.9% tax on income exceeding $1 million per year, beginning in 2029. The measure, which passed by a vote of 52-46, is expected to generate an estimated $4 billion in annual revenue to fund essential services like healthcare and education. The bill faced opposition from Republican lawmakers and some Democrats, who argued it could incentivize wealthy residents and businesses to leave the state.

Why it matters

The passage of the 'Millionaires Tax' comes amid ongoing discussions about Washington State's tax structure and the need to fund critical public services. Supporters argue the new tax is necessary to address the state's funding gaps, while opponents warn it could lead to an exodus of high-earners and potentially pave the way for a broader state income tax.

The details

The 'Millionaires Tax' was passed by the Washington State House of Representatives following more than 24 hours of debate. The measure would impose a 9.9% tax on income exceeding $1 million annually, starting in 2029. Supporters of the tax, including Representative Brianna Thomas and Representative Lisa Parshley, argue the revenue is needed to fund essential services like healthcare and education. Opponents, such as Representative Joshua Tenner, voiced concerns that the tax could incentivize wealthy residents and businesses to leave the state and potentially lead to a broader state income tax.

  • The Washington State House of Representatives passed the 'Millionaires Tax' on Tuesday.
  • The new tax would go into effect in 2029.

The players

Brianna Thomas

A representative from West Seattle who characterized the debate as a significant undertaking, saying 'The House, a lot like me, is not afraid to pick a fight.'

Lisa Parshley

A representative from Olympia who stated the tax would address critical needs, saying 'It's going to help feed our people. It's going to provide behavioral health. It's going to fill the gaps.'

Joshua Tenner

A representative from Orting who argued 'This is not a tax on millionaires. This is a tax on all of us. It's just a matter of when.'

Bob Ferguson

The Governor of Washington who has not publicly commented on the bill's passage as of Wednesday morning.

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What they’re saying

“The House, a lot like me, is not afraid to pick a fight. It's not afraid to throw down as you've seen for the last 24 hours of uninterrupted 'Thunderdome.'”

— Brianna Thomas, Representative from West Seattle

“It's going to help feed our people. It's going to provide behavioral health. It's going to fill the gaps.”

— Lisa Parshley, Representative from Olympia

“This is not a tax on millionaires. This is a tax on all of us. It's just a matter of when.”

— Joshua Tenner, Representative from Orting

What’s next

The tax's passage now moves to the Washington State Senate for consideration. If approved, it would then go to Governor Bob Ferguson for his signature.

The takeaway

The passage of the 'Millionaires Tax' in the Washington State House highlights the ongoing debate around the state's tax structure and the need to fund critical public services. While supporters argue the new tax is necessary, opponents warn it could lead to an exodus of high-earners and potentially pave the way for a broader state income tax.