These three initiatives on the November ballot threaten investments in education, childcare, sustainable environments, healthy communities, long-term care and more.
Our recommendation to Vote NO on all three initiatives is grounded in our values, which include: Belonging, Justice & Equity, Interconnectedness, Collaboration, and Pluralism. These emerge from the heart of our diverse spiritual traditions, texts, and practices that call us to love and care for our neighbors and the earth. Join us in voting NO on these three harmful initiatives this fall and stay up to date on our newly updated initiatives page.
For these initiatives, we especially draw on our commitment to seek Justice and Equity, enabling all people and communities to have the resources and opportunities to live a full and meaningful life. We also are called to Interconnectedness, cherishing and respecting the interdependent web of all existence, and supporting actions and policies that promote resilience, sustainability and environmental justice. These initiatives are antithetical to our values and threaten to reverse decades of our work to make Washington more equitable and balance our upside-down tax code.
Here are the facts on why we’re voting no:
Initiative 2109 would repeal Washington's capital gains excise tax on individuals' stock market annual profits over $250,000. Revenue goes to the Education Legacy Trust Account. If passed it would:
- Take away nearly $900 million every year from childcare, early learning, K-12 education, special education, technical and community colleges, and school construction.
- Repeal a modest 7% capital gains tax on only the wealthiest Washingtonians for profits over $250,000 on stocks and bonds. Prior to this tax, millionaires paid nothing in state taxes toward the common good when reaping huge profits from such assets.
- Put more pressure on the rest of us to make up for the difference through property and sales taxes.
- Worsen childcare shortages and issues for working families and small businesses (who already lose over $2 billion each year due to employees' issues with childcare) by cutting billions from affordable childcare.
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