Washington state’s ‘historic’ millionaire tax takes aim at super-rich – will it succeed?

As living costs rise, the state where Gates and Bezos made billions is targeting top earners – could other states follow?

Noel Frame knows exactly how difficult it is to raise taxes on the ultra-wealthy, because she has been trying to do just that – first as an activist, then as a state legislator – for the past 15 years. And until recently almost all of her efforts ended in failure.

She lives in Washington, a solid blue state that should, in theory, be hospitable to the idea of more progressive taxation and has plenty of multimillionaires to target, since it is the home of Microsoft, Amazon and an array of other tech-driven corporations. While the wealth of these tech giants has grown exponentially in recent decades, the state – which levies no income taxes – has struggled to bring in enough revenue to pay for basic services like public schooling and long-term healthcare.

Why This Matters

Washington state's proposed 'historic' millionaire tax aims to target the super-rich, but its success is uncertain. As living costs rise, the state is looking to address its revenue struggles by taxing top earners. This move could have broader implications for the US tax landscape.

In Week 14 2026, Business accounted for 30 related article(s), with Other setting the broader headline context. Coverage of Business decreased by 78 article(s) versus the prior week, but remained material in the weekly agenda.

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Context

The Guardian and other outlets have highlighted the challenges of implementing progressive taxation in a state with a history of low taxation. The article notes that Washington state's reliance on other revenue sources, such as sales taxes, has not been enough to cover basic services. Some outlets have framed the proposal as a test case for other states to follow, while others have emphasized the potential backlash from wealthy individuals and corporations.