This is important so I'm going to be quick: We are down to the wire in the legislative session, fighting for the Working Families Tax Credit and investments in early learning -- but we need a capital gains tax to help fund both!
There are just days left in the legislative session! Click here to send a quick email to leaders in the House and Senate urging them to stand up for the capital gains tax in these final moments of budget negotiations!
Here's the deal: In Washington State, we have very high sales and property taxes as well as no income or capital gains tax. That means that low and middle-income families pay far more of their income in taxes than wealthy individuals in our state. On top of that, the state is facing a budget deficit -- so with no new revenue, vital programs could face budget cuts.
Just what could we do with a capital gains tax? We could invest in the early learning programs that families depend on -- things like childcare, ECEAP (preschool), and wage increases for early learning providers.
A capital gains tax could also be used to fund and modernize the Working Families Tax Credit (WFTC), a new tax credit for low and moderate income families. The WFTC builds off the success of the federal Earned Income Tax Credit (EITC). Study after study has shown how state and federal earned income tax credits boost families and local economies.
We cannot afford to let another year go by without meaningful work to root out the injustices in our state's tax system. Elected leaders need to hear from YOU that families won't wait! The more of us who take action, the stronger our message.
Thank you for all that you do!