Washington State Votes To Keep ‘Millionaires Tax’

HuffPost · Dave Jamieson · 2026-11-06 15:36 UTC

A conservative-backed ballot measure would have repealed a new tax on high earners, but voters turned it down in the latest fight over taxing the rich.

Voters in Washington state are projected to reject a conservative-backed ballot initiative that would have repealed the state’s new “millionaires tax” before it took effect and barred new income taxes in the future, according to the Associated Press.

“No” votes were leading “yes” votes 58% to 42% with more than three-quarters counted as of Friday morning.

The new 9.9% tax on individual income over $1 million is expected to hit an estimated 20,000 households in the state, or less than 1%. But a political action committee backed by a hedge fund founder rallied to stop the tax before it’s implemented in 2028, claiming the levy would push wealthy residents out of the state and pave the way for taxes on the middle class.

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