Ferguson Says He Will Sign Revised Washington Millionaires Tax

Washington Gov. Bob Ferguson says he plans to sign a revised version of the proposed “Millionaires’ Tax” after lawmakers added changes aimed at returning more revenue to families and small businesses.

The amendment, introduced by state Rep. April Berg, modifies the proposal to expand tax relief while preserving earlier provisions in the bill.

In a statement Friday, Ferguson said any version of the measure he signs must send a significant portion of the revenue back to residents.

The governor said the latest changes would expand the state’s Working Families Tax Credit to an estimated 460,000 additional households. The program provides payments ranging from about $300 to $1,300 to qualifying families.

Ferguson also highlighted tax relief for small businesses, with lawmakers estimating nearly 140,000 businesses could benefit.

Get our free mobile app

The proposal would also remove age restrictions on the tax credit and extend eligibility to families earning at or below Washington’s “Need Standard,” which represents the estimated cost of a living wage for households in Washington.

Other provisions in the plan include new sales tax exemptions on diapers, hygiene products and over-the-counter medicines.

The measure would also dedicate 5% of revenue from the tax to the state’s Fair Start for Kids Account to support childcare and early learning programs.

Another key provision would fund free breakfast and lunch for all students in Washington public schools.

Ferguson said the proposal represents a significant step toward improving affordability for residents across the state and urged lawmakers to pass the bill in its current form.