Washington voters face Initiative 645 on the November 3, 2026 ballot, which would repeal the 9.9% tax on annual household income above $1 million enacted by the Legislature and signed by Governor Bob Ferguson in March. The measure has qualified after opponents gathered over 500,000 signatures. Trader expectations that repeal will fail reflect early and substantial opposition spending, including $3 million from the Washington Education Association and other public-sector unions by mid-September to defend revenue for K-12 education, higher education, and human services. Supporters of the tax emphasize its narrow scope affecting fewer than 0.5% of residents and paired tax relief measures, while repeal backers argue it risks broader income taxation. Legal challenges to the underlying tax continue alongside the ballot contest.