Former Starbucks CEO Howard Schultz announced that he and his wife, Sheri, have moved from Seattle to Miami, Florida, as lawmakers in Washington state advance a proposal to impose a new tax on millionaires.

Schultz revealed the move in a post on LinkedIn, writing that the couple had relocated to South Florida for their next chapter after decades in the Pacific Northwest.

“We have moved to Miami for our next adventure together,” Schultz wrote. “We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own.”

He added that the family remained grateful for the years spent in Seattle. “We will be forever grateful for the memories made in Seattle and the relationships built along the way,” Schultz wrote.

The announcement came the same day lawmakers in Washington passed a bill in the state House that would impose a new 9.9 percent tax on annual income above $1 million beginning in 2029. The measure would mark the state’s first income tax if it becomes law.

Supporters of the proposal say the new revenue would help fund public services such as food programs and behavioral health initiatives. Critics argue the policy could discourage investment and drive high earners and entrepreneurs out of the state.

Schultz did not directly cite the proposed tax as the reason for his move, but he hinted at concerns about the business climate in Washington.

“It is our hope that Washington will remain a place for business and entrepreneurship to thrive, creating essential opportunity for those in Seattle and the surrounding areas,” he wrote.

The legislation must still pass the state Senate and be signed by Gov. Bob Ferguson before taking effect.

Opponents warn that policies targeting high earners can shrink the tax base if wealthy residents choose to relocate to states with lower tax burdens. Florida, where Schultz now resides, does not impose a personal income tax.