Official estimates of Washington's millionaires tax revenue, by fiscal year

The fiscal note (and ERFC's June forecast, which matches it) projects $2.698 billion in FY2029, $3.732 billion in FY2030, $3.167 billion in FY2031 and $3.297 billion in FY2032; those four years total $12.894 billion. OFM's I-645 fiscal impact statement projects $3.108, $4.432 and $3.892 billion for FY2029-31 ($11.432 billion). ERFC's September 2026 forecast projects $3.503, $5.032 and $4.403 billion for FY2029-31 ($12.938 billion).

estimatefiscalYeargrossBillionsvalueType
ESSB 6346 fiscal note (Mar 2026)20292.698observed
ESSB 6346 fiscal note (Mar 2026)20303.732observed
ESSB 6346 fiscal note (Mar 2026)20313.167observed
ESSB 6346 fiscal note (Mar 2026)20323.297observed
ESSB 6346 fiscal note (Mar 2026)20333.439observed
ESSB 6346 fiscal note (Mar 2026)20343.591observed
ESSB 6346 fiscal note (Mar 2026)20353.753observed
ERFC forecast (June 2026)20292.698observed
ERFC forecast (June 2026)20303.732derived
ERFC forecast (June 2026)20313.167derived
OFM fiscal impact statement for I-645 (Jul 2026)20293.108observed
OFM fiscal impact statement for I-645 (Jul 2026)20304.432observed
OFM fiscal impact statement for I-645 (Jul 2026)20313.892observed
ERFC forecast (Sept 2026)20293.503observed
ERFC forecast (Sept 2026)20305.032derived
ERFC forecast (Sept 2026)20314.403derived

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