Summary: Quinn v. WA was filed by millionaires who are attempting to give themselves a tax cut. Quinn would eliminate more than $500 million per year in education funding raised from a 7% capital gains tax on extraordinary profits from stock sales exceeding $250,000 annually. 

• Impacts: Only 00.1% of Washington taxpayers see enough profits to pay this tax. Impacts by county.
• Exemptions: All sales of real estate, retirement accounts like IRAs, family-owned small businesses, and farms, among other things.
• Education Funding: The capital gains tax increases funding for the Education Legacy Trust Account, which supports child care, pre-schools, special education, and community and technical colleges, among other things.  It also funds the Common School Construction Account, which helps with renovating, repairing, and building schools. 
• Fact sheet

WA SUPREME COURT

Summary:  The State of WA and education intervenors are appealing the lower court’s decision, which takes away over $500 million/year from education and gives the super rich a tax cut. The WA State Supreme Court granted direct review. A hearing date is not yet set.

• Press Release: WA Supreme Court Accepts Direct Review of Capital Gains Lawsuit; $500 Million/Year for Students On The Line (7-13-22)
• WA Supreme Court: Order Granting Direct Review (7-13-22)
• Yakima Herald: Washington state needs a more just tax code (6-5-22)
• WA State Request for Direct Review (4-11-22)

WA SUPERIOR COURT OF DOUGLAS COUNTY 

Summary: A trial court in Douglas County ruled in favor of the millionaires behind Quinn v. WA. 

• Press Release: Trial Court Sides With The Super Rich, Ignores Public Support For Funding Childcare, Education By Taxing The Super Rich (3-1-22)
• WA Superior Court Ruling for Millionaire Plaintiffs (3-1-22)
• Tri City Herald: These community leaders in Central WA say revenue from capital gains tax is needed (2-21-22)
• Seattle’s Child: What the new capital-gains tax means for Washington families (1-28-22)
• WA State Summary Judgment Reply (1-21-22)
• Education Parties (Intervenors) Joinder in MSJ Reply (1-21-22)
• WA State Summary Judgment Opposition (1-7-22)
• Eastern WA Leaders Amicus Brief (12-20-21)
• Education Parties (Intervenors) Summary Judgment Joinder (12-6-21)
• WA State Motion Summary Judgement (12-6-21)
• Press Release: WA Parents, Teachers, and a School District Asking To Join In Defending Education Funding (7/6/21)
• Motion to Intervene by Parents, Teachers, School District (7-6-21)