No on 2109 – November 1, 2024

Seattle Times: How voters’ decision on the capital gains tax could affect education funding in WA

Friend,

Initiative 2109, brought to the ballot by hedge fund manager Brian Heywood, would repeal the capital gains tax – a tax on extreme Wall Street profits that provides crucial funding for education, childcare, and early learning.

A recent Seattle Times story digs into how the tax works and why it’s on the ballot.

• The Washington legislature passed the capital gains tax in 2021 to fund education and childcare
• Opponents of the tax challenged it in court and lost
• One of those opponents, Heywood, spent millions of dollars to put I-2109 on the ballot in a last-ditch effort to repeal the tax and avoid paying what he owes

Washingtonians support the capital gains tax. The Washington Supreme Court upheld the capital gains tax. On Election Day, we need to protect it by making sure voters turn out and vote NO on I-2109. Chip in now to help get out the vote in these final days.

Heywood said the capital gains tax was “a stupid tax” that would “beat up” the state’s economy.

In reality, it’s a 7% tax on extreme Wall Street profits over $262,000. It does not apply to stocks in retirement accounts or IRAs, real estate, farms, or small businesses. If you’re reading this, there’s a 99.8% chance you’ll never pay it.

And if you’re still reading this, we need your support to decisively defeat I-2109 on November 5. Chip in now to protect the investments we’re making in education and childcare in our state.

Thanks for giving what you can. We’re almost to the finish line!

-No on I-2109

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