Ballots are here, and Washingtonians are voting on Initiative 2109, which would repeal the capital gains tax and cut $2.2 billion dollars from childcare and education funding in just 5 years. We absolutely cannot let I-2109 pass – if it does, it will hurt working families, small businesses, and WA’s economy.
We’re in the final stretch of our fight against I-2109, but the fight isn’t over. We’re working hard to make sure voters know what’s at stake as they cast their ballots. We’ve joined with the NO on I-2109 campaign to talk directly with voters in the coming days – and we need your help!
Sign up now to volunteer for a virtual phone banking shift, text banking shift, or door knocking in your area to speak directly with voters! Talking with voters is the most effective way to make sure Washingtonians vote NO in the days leading up to November 5. We know that together, we can defeat I-2109 – so I hope you’ll join us!
-Treasure
TRI-CITY HERALD: VOTE NO ON INITIATIVES THAT SEEK TO UNDO WASHINGTON’S PROGRESS
“Washington’s schools need more money, not less. Repealing the capital gains tax would blow a huge hole in education funding, and proponents of I-2109 have no idea how they’d fill it. In the first five years, the state would lose an estimated $2.2 billion.
Do you have stock gains of more than a quarter million dollars annually outside of a 401k or other retirement account? Probably not. Only 38 households in Benton and Franklin counties are so fortunate. Statewide, there are only a couple of thousand, most of them in King County.
Supporters of repeal say it is an unconstitutional income tax, but the courts have ruled that it is not. It is, instead, a narrowly written tax that asks the wealthiest Washingtonians to pay a little extra for education. We recommend voters keep it by voting No on I-2109.”
More – The Tri-City Herald Editorial Board
THE EVERETT HERALD: I-2109 WOULD BENEFIT STATE’S WEALTHY AT KIDS’ EXPENSE
“Voting no on Initiative 2109 will preserve the capital gains tax that is funding investments in education and child care. If I-2109 passes, said Treasure Mackley of Invest in Washington Now, it will take way that $2.2 billion from kids and schools and families.
Initiative 2109 amounts to a cynical play to the state’s voters — 80 percent of whom are paying a far higher share of their income as taxes — to save a sliver of the state’s wealthiest individuals from paying a fairer percentage of their gains, and only those profits above $262,000. As the state confronts a growing need for child care that would allow more parents to pursue education and employment, as well as helping resolve persistent difficulties in funding K-12 education and school construction, passage of I-2109 represents charity to the state’s wealthiest that its residents cannot afford.
Voters must soundly reject Initiative 2109.”
More – The Herald Editorial Board
THE COLUMBIAN: IN OUR VIEW, NO ON I-2109
“Initiative 2109 — We recommend a ‘no’ vote.
In 2023, the capital gains tax was paid by fewer than 4,000 people in Washington and generated nearly $900 million — 85 percent of it from King County residents. The Office of Financial Management estimates that repeal of the tax would reduce state revenue by $2.2 billion over five years.
That money is dedicated to K-12 education, higher education, early learning and child care. In particular, it is being used to help with school construction, especially in rural and low-income districts that have difficulty getting bond measures approved.
Washington has an especially regressive tax system. It also has a school-funding system that can exacerbate inequities between districts. The capital gains tax is a reasonable method for mitigating those problems and aiding a large segment of our population.”
More – The Columbian Editorial Board
CASCADIA DAILY NEWS: ‘NO’ ON INITIATIVE REPEALING CAPITAL GAINS TAX
“CDN believes the capital gains tax is an important and needed source of revenue in a state that has one of the most regressive tax structures in the country. The Institute on Tax and Economic Policy says that only Florida is more regressive.
According to the ITEP, the poorest fifth of Washington taxpayers pay 13.8% of their family income in state and local taxes, while the richest 1% pay only 4.1%.
We strongly recommend a ‘no’ vote on Initiative 2109.”
More – Cascadia Daily News Editorial Board
THE STRANGER: VOTE NO ON I-2109
“This crackpot initiative would repeal the state’s new capital gains tax and cut $2.2 billion for education, early learning services, and child care at a time when schools across the state face huge deficits.
Aside from dramatically reducing funding for schools, passing this initiative would help restore Washington’s status as the state with the most unfair tax code for poor people, all in the service of helping our wealthiest residents dodge a tax that their accountants might mistake as a rounding error.
Vote no.”
More – The Stranger Editorial Board
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