Capital Gains 2021 - Final Senate Ask

Washington State has one of the most regressive tax codes in the nation, where the highest income earners pay only 3% in taxes while the lowest income earners pay as much as 17%. One way to right this imbalance is to close the loophole on taxing capital gains. SB 5096 (Sen. Robinson) would add WA state to the list of 41 other states who tax capital gains, generating up to $1 billion in revenue for community investments such as education, the Working Families Tax Credit, etc. by taxing high-end financial assets.

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