Democratic state senators are considering implementing an income tax on millionaires to tackle Washington’s ongoing budget deficit. The proposed tax would impose a 9.9% rate on adjusted gross income exceeding $1 million, allowing taxpayers to receive credit for state capital gains tax payments. This move could potentially generate around $3 billion from approximately 20,000 households.

During a recent retreat, the Senate Democratic Caucus discussed this contentious proposal, which has faced rejection from voters and the state Supreme Court in the past. The lawmakers also explored alternative methods for raising revenue to prevent deficits in the current and future budgets.

Senate Majority Leader Jamie Pedersen, a Democrat from Seattle, stated on Wednesday that it is premature to determin

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