As a parent, educator, and child advocate, I know the promise every child brings, along with the many pressures people are facing today. While the cost of living is rising, supports that give low- and middle-income families a fighting chance are being stripped away. Every child, equally full of promise, does not have equal access to high-quality early learning, K-12, and higher education.
As Washingtonians, we often see ourselves as justice-oriented and progressive, but right now we have the same, or worse, economic disparities as every other state in the nation. Where a child lives and the color of their skin have far too much to do with the opportunities afforded to them. But this year we have the chance to make a step closer to a future where every child in Washington can be rich in lifelong learning and success.
Washington state is home to many wealthy people. And they want the same things for their communities as the rest of us: good schools, access to health care, safe roads, and healthy green spaces. But in terms of taxes, the wealthiest among us are not contributing at the same rate as those with the low and middle incomes. Washington isn’t a tax haven for everyone; we rely heavily on sales and property taxes, which hit working families hardest. Right now, families making less than $33,500 pay 13.8% of their income in taxes, while those making over $875,000 pay just 4.1%.
This inequity is compounded by the tax breaks included in Trump’s One Big Beautiful Bill Act (OBBA). According to an analysis by the Congressional Budget Office, families making over $700,000 a year will see a $13,600 boost in household resources, almost entirely from tax cuts. On the other hand, families making $24,000 a year or less will lose around $1,200 every year, mostly due to cuts to Medicaid and food assistance. In a state as prosperous as ours, working families should be able to build a future without being weighed down by an inequitable tax system. We need a way forward that does not continue to place the burden on those who can afford it least.
The Millionaires Tax introduced in Olympia as Senate Bill 6346 would be a significant step toward balancing our tax code. This proposal would tax annual earnings over $1 million at 9.9%. Early analysis shows this could raise nearly $3.7 billion a year from less than 1% of the wealthiest households statewide.
Revenue from this tax would primarily go into the state’s General Fund to support vital programs and services like health care and education. This legislation would also reduce taxes on small businesses, expand eligibility for the Working Families Tax Credit, and dedicate a portion of the revenue to county public defense programs.
This year, our state is again facing a budget shortfall. As a result, many critical programs are at risk of funding cuts and delays – but one stands out: early learning. Cuts to early learning make up 40% of all proposed cuts in the budget, which would cause thousands of families to lose access to care and leave early learning providers without the necessary resources to provide a living wage for their staff.
As a former preschool teacher, I know how impactful early learning programs are for kids and families. They provide a nurturing environment for positive child development, and safe and trusted care so that parents can work. While revenue from the Millionaires Tax will not prevent funding cuts in this budget cycle, it would help resolve the deficit and protect important programs like early learning in the future.
Well-funded schools, access to health care, and strong communities benefit all of us. We all have a stake in the future of our state, and it’s time for the wealthiest among us to contribute equitably toward that. Let’s pass the Millionaires Tax.
