Why 🐵 UnitedStatesNews-NoOpEd picked: Millionaire tax no more? Rightwing groups lead effort to repeal Washington state law

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Source: theguardian.com

<p>An initiative on November’s ballot aims to overturn the 9.9% tax on earnings above $1m – who’s winning the fight? </p><p>Voters in Washington state will soon decide the fate of the state’s so-called “<a href="https://senatedemocrats.wa.gov/millionaires-tax-faq/" rel="nofollow noopener noreferrer ugc" target="_blank">millionaire tax</a>” – a 9.9% income tax on earnings above $1m that was <a href="https://governor.wa.gov/news/2026/governor-ferguson-signs-millionaires-tax-law" rel="nofollow noopener noreferrer ugc" target="_blank">signed</a> into law in March and is now facing a conservative-backed effort to repeal it.</p><p>An <a href="https://leg.wa.gov/media/ucubvqsd/2026-summary-of-initiative-26-645.pdf" rel="nofollow noopener noreferrer ugc" target="_blank">initiative</a> on November’s ballot aims to overturn the tax, claiming that the tax represents a slippery slope, and would eventually result in taxes for more than just millionaires. A <a href="https://no645.com/our-coalition/" rel="nofollow noopener noreferrer ugc" target="_blank">coalition</a> of advocacy groups and unions opposing the initiative say taxing the state’s 20,000 highest-earning households could raise approximately $3.5bn in necessary annual revenue to fund core priorities like education and healthcare, and expand tax credits and sales tax exemptions.</p> <a href="https://www.theguardian.com/us-news/2026/oct/07/washington-state-millionaire-tax" rel="nofollow noopener noreferrer ugc" target="_blank">Continue reading...</a>