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Millionaire tax, budget gap dominate talk ahead of Washington legislative session
Gov. Bob Ferguson and top lawmakers from both parties outlined their priorities ahead of Washington’s 2026 legislative session, with much of the discussion focused on the governor’s proposal for a so-called millionaire tax.
OLYMPIA, Wash. - Governor Ferguson, along with top state lawmakers from both sides of the aisle, discussed their priorities for the 2026 Legislative Session that begins on Monday.
Reporters asked various questions, with many of them focusing on Gov. Ferguson’s recent push for a "millionaire tax" to generate more revenue for the state.
"I would not be proposing it if I didn’t feel confident that it would survive that legal challenge," said Ferguson.
A legal challenge would certainly come since an income tax is against the State Constitution.
Ferguson predicts it will work out the way he wants in the end, with some rules on how he wants the funds allocated.
"We have to have to have a significant portion of that go back directly to Washingtonians," said Ferguson.
What they're saying:
Top Democratic budget leaders are in sync with the governor, saying many Washingtonians have shown an appetite to tax the wealthy, calling the state’s tax structure "regressive."
"[It] seems to have momentum," said Sen. June Robinson.
"The feasibility will be determined as time goes on," said Rep. Timm Ormsby.
Critics, including Republican lawmakers Chris Gildon and Travis Couture, believe the millionaire's tax is a disingenuous way of paving the path for an income tax on everyone, not just the wealthy.
"If you want to be serious about fixing regressivity in our state, you need to talk about reducing the tax burden on the poor and middle class," said Sen. Gildon.
When pressed on whether they would ever support a universal income tax down the road, top Democrat budget leaders Timm Ormsby and June Robinson, did not give a definitive answer Friday.
Even if the so-called millionaire’s tax were to go through, the money isn’t projected to come in until 2029, leaving the next two-year budget cycle with a $2.3 billion dollar shortfall for everything the governor wants to fund.
By the numbers:
The governor has laid out how he wants to spend taxpayers' dollars of nearly $79 billion over the next two years, including taking $1 billion from the rainy day fund and repealing tax exemptions for businesses.
"He made responsible decisions, and we will take a look at them and make our own decisions," said Sen. Robinson.
Republicans say state spending has grown significantly over recent years and that the controlling party does not have a revenue problem, but a "spending addiction."
"We have never had more revenue in the State of Washington right at this very moment," said Rep. Travis Couture. "The governor’s budget grows spending by about a billion dollars and only cuts about $85 million — with an ‘m’."
Today’s discussion is a sign the 60-day legislative session this year will be a fiery one.
Governor Ferguson says the budget challenges will remain front and center.
"[The] big focus is continuing to try and get our arms around the budget challenges we are facing," said Ferguson.
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The Source: Information in this story comes from a press conference held by the Governor's Office.