Governor Ferguson has proposed a “Millionaires Tax” aimed at generating revenue from the state’s wealthiest households. The tax would be applied to income exceeding $1 million, imposing a rate of 9.9% on that portion. It is anticipated that only about 20,000 out of 3.1 million households in the state will be affected, representing less than 1% of the population. This tax is projected to raise approximately $3.7 billion. The proposal also includes the repeal of certain sales taxes on personal care products commonly used by the general public, such as soaps and toothpaste. While the new tax revenue will not address immediate budget shortfalls, it aims to provide a sustainable funding source for crucial early learning programs in the long term. Supporters are encouraged to sign in “PRO” by 12:30 PM to express their backing for the tax, with the process taking only two minutes.