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Leaders: millionaire income tax draft still in development; pass-through mechanics under review
Washington legislative leadership (House and Senate leaders) · January 21, 2026
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Summary
Legislative leadership said no complete income-tax bill is circulating yet and staff are focused on mechanics—particularly avoiding double taxation of pass-through businesses—and that a final draft could be ready in roughly a week to 10 days.
Legislative leaders told reporters there is not yet a finished draft of a proposed income or "millionaire" tax but staff and advisers are working on the technical mechanics, with a particular focus on preventing double taxation of pass-through business owners.
An unidentified Senate leader said the portion of the…
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