WA Supreme Court Hearing Set For Capital Gains Lawsuit

$500 Million/Year for Child Care, Education On The Line 

October 25, 2022
Contact: info@investwanow.org
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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.