November 21, 2024
In this issue:
- Washington voters decide to keep capital gains tax
- When given a choice, voters fought back against income inequality
- Washingtonians love a tax
- An open letter to Washington state lawmakers
On Election Day, Washington voters sent a loud and clear message: We’re done letting the ultra-wealthy call the shots. I-2109 wasn’t just defeated, it was trounced by voters who, by a 30-point margin, chose school and child care funding rather than a tax cut for the super rich. Congratulations to every one of you who took action for the No On I-2109 campaign – this victory is thanks to you!
A 30-point margin is as clear a message as you can get. And we’re taking that message to lawmakers in Olympia right now to push for even bigger, bolder change.
We know that mega-millionaires like Brian Heywood will keep doing everything they can to stop our progress, but we’re not going to stop fighting until we have a Washington where all of us can thrive. Want to stay in the loop on how you can help win tax justice? Join our Rapid Response Team and we’ll tell you when the time is right to leap into action again.
-Treasure
WASHINGTON BALLOWASHINGTON VOTERS DECIDE TO KEEP CAPITAL GAINS TAX
Tuesday night results for Initiative 2109 show the measure to repeal the capital gains tax is failing by a wide enough margin for backers of the measure to declare defeat.
Treasure Mackley, executive director of Invest in Washington Now, supported defeating I-2109. “The first year the capital gains tax brought in $896 million which was over what was estimated,” Mackley told The Center Square back in July. “That goes to show how much wealth we have here in Washington state.”
The No on 2109 campaign sent a news release via email that, in part, said, “Washingtonians have spoken loud and clear for progress toward fixing our upside-down tax code, as the middle class pay three times their income in taxes as the wealthiest Washingtonians. Thanks to the capital gains tax, we have gone from 50th to 49th most regressive tax code in the nation. Tonight voters said, let’s continue going forward, not back.”
More – Carleen Johnson, Center Square
WHEN GIVEN A CHOICE, VOTERS FOUGHT BACK AGAINST INEQUALITY
As billionaires used their financial firepower to throw support to their preferred candidates, Americans who’ve been left behind took out their frustrations at the ballot box. Washington State’s Initiative 2109 was the most important tax-related ballot measure of the year. Hedge fund executive Brian Heywood bankrolled this campaign, hoping to repeal the state’s innovative capital gains tax on high earners. The rollback proposal went down in a landslide.
“This victory shows that advocacy in support of creating a more equitable tax code works,” Melinda Young-Flynn, Communications Director at the Washington State Budget and Policy Center, told me.
“Business owners, labor unions, teachers, racial justice advocates, parents, lawmakers, and many more” groups, she added, “have worked together for more than a decade to help the public make the connection between common sense progressive taxes and the very real needs of our communities.”
More – Sarah Anderson, Other Words
WASHINGTONIANS LOVE A TAX
With the projected defeat of three out of four of the proposed ballot initiatives, Washington voters sent a clear message to millionaire hedge fund manager Brian Heywood: We love taxes, especially on the rich. Washington voters seem likely to reject I-2109, I-2117, and I-2124, all of which would have cut taxes.
I-2109, which early results showed 63% of people voted “No” on, would have eliminated the state’s capital gains tax. I-2117, which 61% of people voted “No” on as of election night, would have ended the Climate Commitment Act–a cap-and-trade program that effectively acts as a tax on companies exceeding the emissions cap. Finally, I-2124, which 55% of people rejected, would have eliminated the WA Cares program, a tax that helps people pay for long-term care.
More – Hannah Krieg, Vivian McCall, & Ashley Nervobig, The Stranger
AN OPEN LETTER TO WASHINGTON STATE LAWMAKERS
With the undeniable results of three statewide initiatives, you know you also have public opinion on your side. Voters gave a resounding “no thanks” to the right wing’s attempt to give more tax breaks to the wealthy at the cost of our schools, healthcare and climate.
For too long, many of your predecessors have stayed beholden to big businesses and wealthy donors, choosing any other path but progressive tax reform. In 2009, instead of finding new revenue, Washington lawmakers slashed budgets and aid programs that plunged working families into financial ruin.
The Legislature cannot make that mistake again. Since 2021, not a single legislator lost their seat because they voted for the capital gains tax, and now a 64% majority of voters have defended it at the ballot box. We have made it clear that we support progressive tax reform and a true state safety net, and in the same election, handed you the power to make it possible. With a billionaire in the Oval Office, you are working people’s last line of defense.
More – Emma Scalzo, Washington State Standard
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