WA revenue officials: Income tax will bring in more money than first expected

The briefing

A new Department of Revenue analysis projects Washington's high-earner income tax will raise $3.1 billion in its first fiscal year and about $8.3 billion in 2029-31, up from earlier estimates of $2.7 billion and $6.9 billion. The department also now expects 25,000 households to pay the tax rather than 21,000, partly because 4,000 households just below the $1 million threshold will cross it by the time it takes effect. The figures appear in the fiscal statement for Initiative 645, the November measure to repeal the tax.