Olympia, WA: Today the WA State Supreme Court scheduled oral arguments for January 26, 2023 on Quinn v. Washington, the lawsuit brought by millionaires to exempt themselves from a popular tax on huge stock market windfalls.
Treasure Mackley, Executive Director of Invest in WA Now, responded:
“This lawsuit is just another delay tactic by millionaires to avoid paying what they owe for Washington’s child care, pre-schools, and other education programs.”
Earlier this year a trial court in Douglas County ruled in favor of the millionaires behind Quinn, which is attempting to eliminate $500 million per year in education funding raised from a 7% capital gains tax on extraordinary profits from stock sales exceeding $250,000. These monies will fund the Education Legacy Trust Account, which supports child care, pre-schools, special education, and community and technical colleges, among other things.