Schmudget Blog

I-1098 Would Cut Taxes, Fund Improvements in Health Care and Education

Posted by Andy Nicholas at Jul 23, 2010 02:53 PM |

Initiative 1098 offers Washingtonians an opportunity to enact important long-term reforms to our state’s inadequate revenue structure.  The measure would reduce taxes for homeowners and small businesses while providing additional resources for education and health care through a new tax on high incomes.

The proposed tax on high incomes would generate some $1.7 billion per year in additional resources for Washington State.  The graph below shows how the new revenue would be spent.

Figure1

As the graph shows, about 45 percent ($766 million) of the revenue would be spent on improvements to Washington’s education system.  Another 21 percent ($357 million) would be used to lower property taxes for homeowners and businesses.  The remaining revenues would be spent on new funding for health care services ($328 million) and lowering B&O taxes for small businesses ($249 million).

For more information on I-1098 and other measures to appear on the ballot this November, read our latest policy brief, “2010 Initiatives Could Impact Public Services.

 
Document Actions
HIGHLIGHTS

Our Policy Priorities

Washington state should be a place where all our residents have strong communities, great schools, and the chance for a bright future. Our 2017-2019 Legislative Agenda outlines the priorities we are working to advance to build a better Washington.

Testimonies in Olympia

Misha TVW
We're in Olympia throughout the 2018 legislative session to testify in support of bills that advance our legislative priorities. Watch our testimonies on TVW:

Our Seattle Policy Summit

You can watch our Budget Matters 2017 Seattle Policy Summit, which took place on December 6, online. The first part of the day (watch herefeatured Washington State Lt. Governor Cyrus Habib and Race Forward President Glenn Harris. The second part of the day (watch here) featured Budget & Policy Center Senior Policy Analyst Jennifer Tran, and a panel of local leaders moderated by Michael Brown of the Seattle Foundation.