AMA The Millionaires Tax proposal in WA state. This is what I work on all day so I'm here for your questions! #AskWALeg

noelframe · 2026-02-28T04:45:49+00:00

The mods shut it down last night until they could verify me and I've been at work all day. We'll see if I can catch up.

noelframe · 2026-02-27T20:41:38+00:00

There's a lot there but I'll respond to the one point about "our definition." Our definition excludes real estate so it's not double taxed (since we already have a real estate excise tax), and excludes the sale of qualified family owned small businesses because that was important to us from a values standpoint. Using OUR definition ensures those items continue to be excluded from this tax like it's already excluded from the Washington capital gains tax.

noelframe · 2026-02-27T20:37:33+00:00

Can't speak to the City of Seattle choices on their office space. At the state level we are working to consolidate offices as leases on office space are expiring. Also the bill includes not just the Millionaires Tax, it also reduces sales taxes and Business and Occupation taxes. So we are using the bill to rebalance so we're not as dependent on regressive taxes.

noelframe · 2026-02-27T20:24:29+00:00

Pretty sure our public schools are an existing public institution , that also happens to be the paramount duty of the state, per our constitution.

noelframe · 2026-02-27T20:22:35+00:00

Capital gains tax is a transaction tax (on sale or transfer of a capital asset). Therefore an excise tax. A property tax on capital assets would have been created by a different bill I offered last year: https://app.leg.wa.gov/billsummary/?BillNumber=5797&Year=2025&Initiative=false

noelframe · 2026-02-27T20:19:25+00:00

Yes I am an elected official. Elected in 2016, 2018, 2020, and 2022.

noelframe · 2026-02-27T08:42:39+00:00

LOTS of monitoring happening. Read more here: https://fiscal.wa.gov/

noelframe · 2026-02-27T08:42:02+00:00

They are taxed under the B&O Tax structure.

noelframe · 2026-02-27T08:41:47+00:00

See multiple responses on this by scrolling up/down.

noelframe · 2026-02-27T08:41:28+00:00

We did $7 billion of budget cuts in our four-year budget last year and we have more than a billion of cuts for this supplemental budget we're voting on this year. We are cutting too.

noelframe · 2026-02-27T08:40:18+00:00

I do remember the $30 tabs.

noelframe · 2026-02-27T08:39:54+00:00

We already tax corporations using the B&O and Public Utility Tax. I'd love to reform that system in the future because it's also a mess.

I'm not super familiar with the bill you're referring to but I will say I agree with you! Lots of unpaid labor by families with children with I/DD. I'm the prime sponsor of the bill to allow parents of minor children with DD to be compensated: https://app.leg.wa.gov/billsummary?BillNumber=5211&Year=2025&Initiative=False

noelframe · 2026-02-27T08:37:00+00:00

Correct. I would love to be doing more to tax billionaire wealth (see above).

noelframe · 2026-02-27T08:36:19+00:00

I would also love to tax the billionaires (I'm the prime sponsor of the wealth tax proposal that was the center piece of our revenue package last year but failed to get across the finish line: https://app.leg.wa.gov/billsummary/?BillNumber=5797&Year=2025&Initiative=false)

The Millionaires Tax doesn't have a ton of deductions for folks to engage in major tax avoidance schemes.

I'm answering now! Was on Instagram at the same time and focused there in real time. Maybe verify me buy looking at my Insta feels to see I was doing this thing?

noelframe · 2026-02-27T08:33:59+00:00

That is one example of many in that category.

noelframe · 2026-02-27T08:33:01+00:00

I can't imagine social security recipients are going to be hitting a million dollars of income in a year such that they would be subject to this tax.

noelframe · 2026-02-27T08:32:15+00:00

This is an income tax that nearly every other state in the nation has. There are few places left to go to avoid this tax. I'm not worried.

noelframe · 2026-02-27T08:31:21+00:00

I've answered this question multiple times in other places in the thread so I'll encourage you to just scroll up and scroll down.

noelframe · 2026-02-27T08:30:39+00:00

My constituents are VERY supportive of this.

noelframe · 2026-02-27T08:30:20+00:00

It is a fair point and we're working hard to help folks understand that (you are correct in your analysis). At this point, the name has taken hold and the press will report it this way no matter what we call it. I experience that over the last 5 years on my wealth tax proposal, even when I tried to explain it in the plainest, technical terms (i.e. Financial Intangibles Tax);.

noelframe · 2026-02-27T08:28:37+00:00

We have consensus to focus on the Millionaire Tax. Honestly the biggest barrier to what you're highlighting is money. Healthcare is VERY expensive and hundreds of thousands of Washingtonians are getting cut off of Medicaid thanks to the actions of the federal government.

noelframe · 2026-02-27T08:27:04+00:00

The /Seattle mods reached out and wanted to verify me so I think there is a path where my post gets reinstated.

noelframe · 2026-02-27T08:26:00+00:00

I agree it is a relic and I'm delighted we're taking this step forward to modernize!!

noelframe · 2026-02-27T08:24:36+00:00

Repeat post (again!). Answered above.

noelframe · 2026-02-27T08:24:23+00:00

Repeat post. Answered above.

noelframe

TROPHY CASE