WA House Representatives:

Vote YES on HB 1406
Wealth Tax on Ultra-Rich

After you fill out the form, you can edit your note, and add your own personal thoughts.

What you should know...

WHAT: The House Finance Committee just approved HB 1406, a bill to put a 1% tax on wealth greater than $1,000,000,000. 

 

This will fund a new tax relief for low and middle families, including new property tax exemption for include low and middle income families facing displacement. 

THE PROBLEM: 

Even during the coronavirus pandemic, the wealthy have become even richer. 

 

The wealth of billionaires like Jeff Bezos has increased by $1,000,000,000,000.

 

At the same time, small businesses are struggling to keep their doors open, and families across this state are struggling to keep a roof over their head and food on the table. 

 

The recession is landing hardest in low income communities – white, Black, and brown – that already pay the highest tax rates in the state. Washington is the worst in the nation when it comes to making the ultra-rich pay their share.

 

Now is the time to reform WA’s tax code to ensure that all Washingtonians contribute to our state’s future. 

 

HB 1406 would:

  • add a 1% tax on value of stocks, bonds, and similar assets greater than $1 billion
  • raise more than $5.0 billion per biennium to help reduce taxes on low and middle income families, including a working families tax credit, and expanding tax exemptions for low and middle class families facing displacement.
  • help kickstart our state’s economy
 

HB 1406 would NOT apply to stocks, bonds or other intangible wealth worth less than $1 billion. 

 

Sign your note to your legislators NOW and add your personal thoughts!