How to watch Gov. Ferguson sign 'millionaires tax' bill
OLYMPIA, Wash. - The Office of Governor Bob Ferguson has announced the governor will sign the "millionaires tax" bill into law on Monday following its passing in the state legislature.
The Mar. 30 signing event will air on TV on FOX 13, as well as stream live on the FOX 13 YouTube page. State government officials are gathering at the Legislative Building in Olympia for the proceedings.
Timeline:
Gov. Ferguson is scheduled to sign the bill around 10 a.m. Additionally, he will sign more bills around 1:30 p.m. Those will relate to immigration policy.
Governor Bob Ferguson discusses the proposed millionaires income tax with the Washington State Legislature.
What is the "millionaires tax" in Washington?
The bill will institute a 9.90% income tax rate on households earning more than $1 million annually.
The new tax would go into effect as of Jan. 1, 2028.
What will the taxed earnings go to?
According to the governor's office, funds from this tax will go to the following:
- K-12 education
- Health care
- Higher education
- Government services (other)
- Working families' tax credit
- Reduce sales taxes and business taxes
Protester holds up sign against the proposed millionaires tax during a rally in Olympia, Washington on Mar. 7, 2026
The other side:
Republican state representatives have already said they plan to repeal the bill. In previous remarks during the negotiation period, Republicans argued the proposal was unconstitutional, warning it could easily be misinterpreted and expand beyond millionaires.
MORE NEWS FROM FOX 13 SEATTLE
Where is Jonathan Hoang? WA man with autism disappeared 1 year ago
As fuel prices rise, WA farmers face mounting challenges
Police say WA man shoots kid in the chest for throwing a water balloon
Seattle high-rises connected by decommissioned Boeing 747 fuselage
SCOTUS hears case that could impact WA ballot counting
To get the best local news, weather and sports in Seattle for free, sign up for the daily FOX Seattle Newsletter.
Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national news.