‘Millionaires tax’ repeal qualifies for ballot in Washington state

State Watch ‘Millionaires tax’ repeal qualifies for ballot in Washington state Comments: by Finya Swai - 07/16/26 12:43 PM ET Comments: Link copied by Finya Swai - 07/16/26 12:43 PM ET Comments: Link copied

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Washington state voters will decide in November whether to repeal the state’s newly enacted so-called “millionaire’s tax” on households earning more than $1 million per year.

A spokesperson for Secretary of State Steve Hobbs confirmed to the Seattle Times on Wednesday that Initiative 645, which would repeal the high-earner income tax, received enough signatures to be placed on the Nov. 3 ballot.

Supporters of the measure turned in more than 500,000 signatures to the secretary’s office earlier this month, which was well above the 308,911 required to qualify.

“The Secretary of State will transmit certification … to each county for placement on the next state general election ballot within a few weeks,” the secretary’s spokesperson Stefanie Randolph said in a statement to the Seattle Times.

I-645 would repeal a 9.9 percent income tax on households earning more than $1 million annually that was signed into law earlier this year by Washington state Gov. Bob Ferguson (D).

The tax is slated to take effect on income earned by Washington state residents beginning in 2028, with the first payments due the following year. State officials projected it could generate more than $3 billion in tax revenue per year, with most of the earnings earmarked for the state’s operating budget to fund K-12 education and other public services.

The initiative was expected to meet the certification qualifications, and Randolph told the Seattle Times that a 3 percent sample of petition signatures showed enough valid signatures that “further review is not required.”

Prior to the measure’s certification, Ferguson launched a campaign against the repeal initiative, rallying support from organized labor and other proponents of the tax to prevent it from being repealed.

Supporters of the “No on 645” campaign argued that the new tax law addressed tax breaks taken advantage of for years, while helping fund important causes for the state. The governor also argued that it could possibly force the state to cut funding for K-12 education and rollback other critical programs.

Washington state is home to prominent billionaires such as Microsoft co-founder Bill Gates, former Starbucks CEO Howard Schultz, and was once the primary residence for Amazon founder Jeff Bezos.

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