Senate Bill (SB 6346) Will Make Mega-Millionaires Pay What They Owe Washington State Families For Education & Healthcare

February 2, 2026

On behalf of its 130,000 activists, Invest in Washington Now released the following statement on the introduction of SB 6346, the Millionaires Tax: 

“We are thrilled to see legislators champion SB 6346, a measure that will help Washington State meet the needs of working families by asking mega-millionaires and billionaires to pay a little more. This is a smart step towards balancing Washington’s upside down tax code while funding schools, health care, and other necessities people are struggling to afford. 

Washington's antiquated tax code is the second-most regressive in the country, which means that working people pay more, while the gap between rich and poor continues to widen. A Millionaires Tax will make Washington a better place for everyone to live, especially now as we are facing draconian federal cuts from Congress and the White House. 

Washingtonians overwhelmingly support fairness - 64% of voters chose to maintain the capital gains tax on extraordinary profits in 2024. Despite the years of fearmongering about wealthy individuals leaving the state, this has not come true. Washingtonians have seen through these cynical attempts to fight any efforts to make our tax code fairer and more beneficial to working people.” 

About Invest in Washington Now

Invest In Washington Now is a network of over 130,000 Washingtonians from across the state united for a just and equitable tax code. We led efforts to pass the state’s capital gains tax on extraordinary profits and defended it at the ballot last year by defeating Initiative 2109 with over 64% of the vote. Learn more at investinwanow.org