Schmudget Blog

UPDATE: I-1098 Would Fund Improvements in Health Care and Education, Cut Taxes for Homeowners and Small Businesses

Posted by Andy Nicholas at Sep 24, 2010 11:34 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 $2.9 billion per year in additional resources for Washington State.  The graph below shows how the new revenue would be spent.

I-1098_pie

As the graph shows, about 55 percent ($1,600 million) of the revenue would be spent on improvements to Washington’s education system.  Another 15 percent ($393 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 ($686 million) and lowering B&O taxes for small businesses ($259 million).

For more information on I-1098, see the following collection of reports from the Economic Opportunity Institute.

For information on other measures to appear on the November ballot see the following Budget & Policy Center reports and schmudget posts.

In Perspective: The Potential Cost of I-1107
I-1107 Would Repeal Common and Reasonable Taxes
I-1107 Could Imperil Efforts To Maintain Public and Environmental Health
I-1107 Would Restore Wasteful Business Tax Preferences
I-1053’s Supermajority Requirement is Excessive and Unreasonable
New OFM Analyses Show Potential Costs of 2010 Initiatives
2010 Initiatives Could Impact Public Services

 

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HIGHLIGHTS

Watch the Poverty Forum Video

If you missed the half-day Poverty Forum that we co-hosted with Partners for Our Children in May 2016, you can watch it on YouTube now. It features a range of speakers and panelists talking about policy solutions for addressing income inequality and poverty in our state.

We're Hiring!

Come join our fun, hard-wording team of people who are passionate about social and economic justice! We're seeking a Betty Jane Narver Policy Fellow and a Policy Analyst/Senior Policy Analyst

Our Legislative Agenda

Our agenda for the 2015-2017 biennium calls for an equitable, sustainable revenue system in addition to state investments that: promote a world-class education system; sustain a strong middle class; produce living-wage jobs, and ensure that all Washingtonians have equal opportunity to get ahead. 

Testimonies in Olympia

We testified in support of a number of important bills during the 2016 legislative session. Take a look:

  • Our testimony (at the 23:23 minute mark) on the House Bill that would take a two-generation approach to preventing poverty 
  • Our testimony (at the 1:54:09 mark) on the House bill focused on aerospace-related tax breaks
  • Our House testimony (at the 9:25 mark) and Senate testimony (at the 1:44:54 mark) on the two-generation approach to poverty prevention bill 

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