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Tags: washington state | democrats | millionaires tax

Washington State Dems Introduce Millionaire's Tax, GOP Warns of Risks

By    |   Tuesday, 03 February 2026 02:39 PM EST

Democrat lawmakers in Washington state unveiled legislation Tuesday that would impose a new tax on residents earning more than $1 million annually, Politico reported.

The move advances a proposal supporters say would fund key services, while opponents warn it could worsen economic challenges and fail to address the state’s immediate budget shortfall.

The proposal would levy a tax of nearly 10% on income exceeding $1 million, marking the latest attempt by Washington Democrats to implement an income tax in one of the few states that does not currently impose one.

Party leaders say public support and shifting political dynamics have strengthened the bill's chances of passage.

A poll by DHM Research in November 2025 of 500 Washington residents found that 61% supported an income tax on high earners, including 54% of Republicans.

Washington House Majority Leader Joe Fitzgibbon, a Democrat, said public frustration with federal tax policy and perceptions that wealthy individuals are not paying enough in taxes have fueled momentum behind the proposal.

"The magnitude of the tax cuts, both on individuals and on businesses that the federal government ... really stokes the fires of people's anger at both the federal administration and wealthy people that they don't think are paying their fair share," Fitzgibbon told Politico ahead of the bill's introduction.

Democrat Gov. Bob Ferguson has endorsed the measure, first backing the proposal in December and highlighting it as a priority during his January State of the State address.

Democrats, who control both chambers of the Legislature and the governor's office, argue the tax could generate revenue to expand education and health care services while potentially allowing tax relief for lower- and middle-income households.

Republicans, however, are sharply criticizing the plan, arguing it would do little to resolve Washington's estimated $2 billion budget deficit, because revenue from the tax would not be realized for several years.

GOP lawmakers have also raised concerns about the complexity of implementing a new income tax during the state's relatively short legislative session.

Washington Senate Republican Leader John Braun, who is challenging Democrat Rep. Marie Gluesenkamp Perez in Washington's 3rd Congressional District this fall, said the proposal faces significant legislative hurdles despite Democratic majorities.

Beyond Washington, several states are considering similar taxes on high earners, reflecting a broader national trend toward progressive taxation. Legislators in California, Rhode Island, and Illinois are weighing comparable proposals, while Massachusetts and Minnesota have recently enacted income taxes targeting wealthier residents.

Supporters in multiple states have cited federal tax cuts under President Donald Trump, along with reductions in federal spending on programs such as Medicaid, as key motivations for pursuing new revenue streams at the state level.

Brian Freeman

Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.

© 2026 Newsmax. All rights reserved.


US
Democrat lawmakers in Washington state unveiled legislation Tuesday that would impose a new tax on residents earning more than $1 million annually, Politico reported. The move advances a proposal supporters say would fund key services...
washington state, democrats, millionaires tax
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2026-39-03
Tuesday, 03 February 2026 02:39 PM
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