An initiative on November’s ballot aims to overturn the tax, claiming that the tax represents a slippery slope, and would eventually result in taxes for more than just millionaires. A coalition of advocacy groups and unions opposing the initiative say taxing the state’s 20,000 highest-earning households could raise approximately $3.5bn in necessary annual revenue to fund core priorities like education and healthcare, and expand tax credits and sales tax exemptions.
Facing dwindling federal funds under the Trump administration yet home to substantial tech-industry wealth, including prominent billionaires such as Bill Gates, Steve Ballmer and, until recently, Jeff Bezos, Washington has joined other states and municipalities by turning to its wealthiest earners as a source of revenue. Massachusetts, Maine and New York already impose a unique tax rate on millionaires, and Hawaii passed a similar measure in May…
https://www.theguardian.com/us-news/2026/oct/07/washington-state-millionaire-tax
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