Washington built a century-long promise on one thing: no income tax. That promise is cracking—fast. In this episode, we break down what happened after the Washington Senate passed SB 6346 on February 16, 2026: a 9.9% tax on income over $1,000,000—sold as a “millionaire’s tax,” but designed in a way that can quietly expand into an everyone tax.
Here’s the part people are missing: the amendments tell the real story. Proposals to protect families, preserve charitable giving, remove the marriage penalty, allow standard loss carryforwards, and—most importantly—restore the public’s ability to challenge the bill via referendum were all rejected. Add the “emergency clause,” and you’ve got a path that limits voters’ options while the state moves faster than normal public process.
We’ll also cover why lawmakers are already worried about capital flight, how Washington’s estate tax is already triggering wealth relocation, and why stacking new taxes during an affordability crunch can hit working families through higher costs, weaker job growth, and shrinking investment.
If you live in Washington, this affects your paycheck, your housing costs, your business, and your future. Watch to the end for exactly how to track the House Finance Committee timeline and what you can do next.