SB 6346: Establishing a tax on millionaires.
SB 6346 status: Introduced — Effective date 6/11/2026* (updated Mar 30, 2026).
What this bill does
Overall score
Bill summary
OfficialLawmakers are debating a new plan to charge millionaires higher taxes. It is currently being discussed in the Senate, so it is not a law yet.
Key analysis
Impact analysis
Environment
Benefits
- Potential for increased tax revenue to fund environmental initiatives
Risks
- No direct sector impact identified in current abstract
Economy
Benefits
- Potential for expanded state funding for public services
- Redistribution of wealth to address income inequality
Risks
- Risk of capital flight from high-net-worth individuals
- Potential long-term reduction in regional investment
Society
Benefits
- Reduction in income disparity
- Expansion of resources for social safety nets
Risks
- Potential for polarizing public discourse
- Uncertainty regarding revenue allocation and service delivery
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
LegiScan returned a PDF-only document. PDF extraction is not enabled in this build, so the pipeline used a safer fallback.
Analysis restricted to abstract due to lack of full bill text.
Where it stands
Introduced
CurrentEffective date 6/11/2026*.
Committee
UpcomingFloor
UpcomingGovernor
UpcomingEnacted
UpcomingHow it affects your district
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