No on 2109 – August 21, 2024

Friend,

Until a few years ago, Washington state had the most regressive tax system in the nation. Low-income Washingtonians paid 17% of their income in taxes, while the wealthiest paid just 3%.

We changed that in 2021, when we passed Washington’s capital gains tax – a tax on extreme Wall Street profits. It’s holding the ultra-wealthy accountable for paying their fair share, and funding investments in child care and education all over Washington state.

But now, hedge fund millionaire Brian Heywood is trying to reverse our progress with Initiative 2109. He’s spent millions to put I-2109 on the ballot to give himself and a few other ultra-wealthy Washingtonians a tax cut – no matter the cost to Washington families.

The stakes are immense. If 2109 passes, Washington state will lose more than $2 billion in funding for child care and education over the next six years. We can’t afford that – so I’m personally asking you to chip in to the No on I-2109 campaign to protect our progress.

You may know me from Invest in Washington Now, the group that helped more than 70,000 Washingtonians take action and pass the first-ever capital gains tax on Washington’s mega-millionaires and billionaires to fund child care and education.

Now, some mega-millionaires are desperate to repeal this tax with Initiative 2109 — and cut billions from education and childcare in the process. It’s selfish and short-sighted. They have no idea what it’s like to struggle to afford child care. They can afford full-time nannies. All they care about is having a lower tax bill at the end of the year.

We need an outpouring of grassroots support to make sure Washingtonians know what’s at stake. So I’m personally asking: Will you contribute now to help defeat I-2109 and protect our progress toward affordable child care and education in Washington?

Overturning the capital gains tax would be a grave mistake. In its first year alone, it raised nearly $900 million, and 99.8% of Washington households did not have to pay it. (It does not apply to the sale of a home, small business, farmland, farm equipment, or anything in a retirement or college savings account.) We’re using funds from this tax to make crucial investments in child care and education, setting the next generation up to thrive.

Imagine if we could keep investing, year after year. That’s the goal – and it’s why we must defeat I-2109.

I’m proud of the progress we’ve made toward a fairer tax system, and I hope you’ll join me in protecting it. Please chip in $20 or another amount to the No on I-2109 campaign so we can keep investing in Washington families – and ensure mega-millionaires like Brian Heywood pay what they owe.

Thanks for your support.

Very truly yours,

Jay

No on 2109 Committee
PO Box 21961, Seattle, WA, 98111
Top Contributors:
National Education Association, WA Federation of State Employees, Washington Education Association, Lisa Mennet, SEIU Initiative Fund