Pledge to VOTE NO on Repeal of Millionaires Tax

Why vote No on IP26-645

A mega-millionaires is bankrolling IP26-645 to give himself a tax cut by repealing Washington’s Millionaires Tax.

Initiative 645 would blow a massive $13 billion hole in our state budget, resulting in devastating cuts to K-12 education, healthcare, human services, and higher education. We're already struggling with overcrowded classrooms, higher tuition and fees, housing affordability, and skyrocketing healthcare costs. I-645 would make things even worse.

IL26 -645 would REPEAL:

• Expansion of the Working Families Tax Credit, which will put cash in the pockets of more than 800,000 low and middle income people.

• Sales tax cuts for over-the-counter medicine, diapers, hygiene and grooming products, saving families hundreds of dollars

• B&O tax cuts that apply to the majority of small businesses in WA, the biggest tax cut in state history

• Free school lunch and breakfast for all Washington students plus more money for childcare and early learning

• Billions for education, healthcare, and other essential services

and put more pressure on middle class families to make up the difference.

The Millionaires Tax Applies To Only 0.5% of Washingtonians

• Only taxes annual earnings over $1 million, the first $1 million is exempt. It does NOT apply to sales of homes or other property, funds from retirement accounts, or sales of small family-owned businesses.

• Doesn’t apply to 99% of Washingtonians because only 22,000 (less than 1%), the wealthiest in Washington, receive enough to be subject to the Millionaires Tax

Act Now: Pledge to vote no on IP26-645.