Washington Senate Passes Historic 9.9% Income Tax on Millionaires in 27-22 Vote, Sending Shockwaves Through State’s Business Community

SB 6346, dubbed the "Millionaires Tax," would generate an estimated $3.7 billion annually beginning in 2029, but critics warn the legislation could accelerate an exodus of the state's wealthiest residents and expose small business owners to unintended consequences. The Washington State Senate on February 16, 2026, approved Senate Bill 6346 on a 27-22 vote, advancing […]