WA Senate Ways & Means Committee:

Vote YES on Capital Gains Tax On Stock Windfalls

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

What you should know...

WHAT: Sign NOW to send a letter to key WA State Senate Ways & Means Committee members in time for the 4pm hearing on Thursday, Jan 14. That’s when lawmakers will take testimony on  SB 5096, a bill to put a new tax on capital gains. 

THE PROBLEM: Washington is the worst in the nation when it comes to making millionaires and billionaires pay their share like the rest of us.

Almost every other state in the nation – including Idaho, Montana, and Oregon – taxes capital gains, and are better situated to help their states’ economies recover from this pandemic.

 

SB 5096 would:

  • add a 9% tax on high-end capital gains – such as sales of stocks and bonds – only on profits greater than $25,000 (or $50,000 for couples filing jointly)
  • raise more than $1 billion for community investment in the coming budget cycle and more than $2 billion in following budget cycles

 

SB 5096 would NOT apply to gains from the sales of assets from:

  • retirement accounts,
  • small businesses,
  • residential real estate, or
  • farmland, timber, or livestock.

 

Learn more about taxes on capital gains.

 

With additional revenue from SB 5096, we’ll be able to provide more help to Washington’s struggling small businesses, protect more families from eviction, improve health care and public health, and create more jobs to boost our state’s economy.

 

Sign your note to committee members NOW!