Washington State Superintendent of Public Instruction Chris Reykdal has proposed directing funds from a proposed "millionaires' tax" to support middle-class families and the education sector. The proposal is revolutionary for a state that historically has no personal income tax, relying instead on sales taxes, excise taxes and business taxes. The bill would impose an additional 9.9% income tax on individuals with annual incomes over $1 million. Estimates suggest the measure could raise more than $3 billion annually for the state budget beginning in 2028. Because it would change a long-standing constitutional principle, the amendment would require voter approval in a referendum.
Under Reykdal’s vision, the funds would be allocated to two key priorities. First, about $1.4 billion a year would be used to reduce property taxes for the middle class, potentially saving homeowners thousands of dollars. Second, $861 million would be invested in education, including a free two-year college program for state residents and paying for college-credit courses for high school students.
The initiative comes amid a slight decline in real per-student spending in the state’s public schools. As an independently elected superintendent of public education, Reykdal is responsible for overseeing the implementation of education laws and the distribution of school funding. However, the bill has not won unanimous support: Governor Bob Ferguson, the state’s chief executive, said he cannot support it in its current form. He wants a larger share of the new revenue to go toward broad tax relief rather than specific programs, highlighting differences in their roles and priorities.
If Reykdal’s proposal is adopted, it could substantially reshape Washington’s education funding and tax systems. The superintendent says it would make the tax code fairer, provide significant financial relief to thousands of families, and give students access to free higher education.
Based on: Reykdal wants proposed ‘millionaire’s tax’ to support students