Gov. Bob Ferguson Bill Signing

Governor's Office - Boards & Commissions · March 30, 2026

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Governor's remarks introducing and explaining SB 6346

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Governor Ferguson opened the ceremony, called Senate Bill 6346 (the "millionaire's tax") historic, and explained its basic mechanics: it taxes income above $1,000,000 in a single year (not assets) and will apply to less than one-half of one percent of Washingtonians. He listed top spending priorities for the revenue, including expansion of the Working Families Tax Credit, free K–12 breakfast and lunch, more than $300 million for childcare, B&O tax relief for about 130,000 small businesses, and elimination of sales tax on diapers and over-the-counter drugs and hygiene products.

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Governor Ferguson signed Senate Bill 6346, a new income tax on annual income above $1,000,000 (described in the transcript as the “millionaire's tax”), and speakers and community members described how revenue will fund tax credits, free school meals, childcare and small-business tax relief.

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Transcript

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