Olympia: Governor Proposes Millionaire Tax and Infrastructure Funding
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OLYMPIA — Governor Bob Ferguson on Jan. 13, 2026 delivered his State of the State address, urging lawmakers to adopt a 9.9% tax on income above $1 million and to invest in housing, roads and ferries. He also sought bipartisan cooperation. He outlined a response to December 2025 flooding, proposed a nearly $245 million housing supplemental, and detailed using half the rainy-day fund to address a $2.3 billion shortfall alongside cuts to grants and higher-education budgets. Ferguson warned revenue from the proposed millionaire tax would not begin until 2029 and anticipated legal challenges. Based on 6 articles reviewed and supporting research.
More context
Timeline
- 1. Washington historically lacks a state personal income tax.
- 2. December 2025 — Historic flooding affects Washington communities.
- 3. Jan. 13, 2026 — Gov. Ferguson delivers State of the State proposing a millionaire tax.
- 4. Jan. 2026 — Ferguson outlines a $2.3 billion budget shortfall and proposed cuts.
- 5. Officials estimate millionaire tax revenue earliest in 2029 and foresee legal challenges.
Sources
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