Washington passes "millionaires tax" despite concerns of wealth flight

Washington state lawmakers on Wednesday passed a so-called "millionaires tax," a move criticism said could lead to an exodus of high-income earners.

The State Senate passed the measure with a day left in the 2026 legislative session, following a hotly contested 24-hour marathon in the State House. 

The bill would impose a 9.9% tax on income over $1 million for individuals or couples in a household.

The funds generated from the tax would address the state budget, which is currently...