Tax on Financial Assets
To fund a bright future for every student, we can enact a small tax paid only by people with Wall Street wealth in excess of $50 million. This would raise $1-4 billion dollars per year for our public schools, special education services, and the educators that are shaping the next generation.
Where it stood when it stopped
Supporters are legislators WCA staff have recorded backing this bill, not floor votes. See who’s with us
Stopped after introduction. Step 1 of 5.
- Step 1: Stopped after introductionJan 12, 2026
- Step 2: In committee Not reached.
- Step 3: Passed Senate Not reached.
- Step 4: Passed House Not reached.
- Step 5: Governor Not reached.
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Washington Community Alliance’s view
This bill currently sits in Ways and Means. It is considered as Necessary to Implement Budget and is not subject to deadlines.
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Explain it in plain language
An AI-written summary of what the bill does and who it affects. Check the official bill for exact wording.
Who’s with us
0 in the House, 14 in the Senate. 14 support. Positions are recorded by our policy team.
Supports 14
History
- Jan 12, 2026
By resolution, reintroduced and retained in present status.
Rules Committee relieved of further consideration. On motion, referred to Ways & Means.
First event
From the Legislature
The official record, updated every few hours, last on Nov 3, 2026.
ESB 5797Intangible assets tax
Did not passLatest: Rules Committee relieved of further consideration. On motion, referred to Ways & Means. (Jan 12, 2026)
Sponsor: (Frame)
Hearings (2)
- Apr 18, 2025Committee vote, Senate Ways & Means
- Mar 31, 2025Public hearing, Senate Ways & Means
Recorded votes (1)
- Apr 27, 2025Senate, 3rd Reading & Final Passage: 26 yes, 21 no, 1 not voting
Every step (14)
- Jan 12, 2026Rules Committee relieved of further consideration. On motion, referred to Ways & Means.
- Jan 12, 2026By resolution, reintroduced and retained in present status.
- Apr 27, 2025By resolution, returned to Senate Rules Committee for third reading.
- Apr 27, 2025First reading, referred to Finance.
- Apr 27, 2025Third reading, passed; yeas, 26; nays, 21; absent, 0; excused, 1.
- Apr 27, 2025Rules suspended. Placed on Third Reading.
- Apr 27, 2025Floor amendment(s) adopted.
- Apr 27, 20251st substitute bill not substituted.
- Apr 19, 2025Placed on second reading by Rules Committee.
- Apr 19, 2025Passed to Rules Committee for second reading.
- Apr 18, 2025Minority; without recommendation.
- Apr 18, 2025Minority; do not pass.
- Apr 18, 2025WM - Majority; 1st substitute bill be substituted, do pass.
- Mar 21, 2025First reading, referred to Ways & Means.
HB 2046Intangible assets tax
Did not passLatest: By resolution, reintroduced and retained in present status. (Jan 12, 2026)
Sponsor: (Berg)
Hearings (1)
- Apr 3, 2025Public hearing, House Finance
Every step (2)
- Jan 12, 2026By resolution, reintroduced and retained in present status.
- Mar 24, 2025First reading, referred to Finance.