In 2021, lawmakers smartly listened to community advocates and passed this tax on extraordinary profits, which ensure that the ultra-wealthy pay what they owe in taxes. It also makes our state tax code more equitable and provides critical funding to schools and child care. And in 2023, the state Supreme Court upheld the tax as constitutional.
Brief/Report Amicus brief: Upholding the capital gains tax supports racial justice
Blog Post State Supreme Court made right move on rulemaking for Washington state’s capital gains tax
Video/Webinar Testimony: Congressional Hearing on Economic Disparity
Fact Sheet How the Capital Gains Tax Supports Communities
Blog Post Seattle’s millionaires would profit most if schools lose funding from capital gains tax
Fact Sheet Wealthiest King County residents would claim 2/3 of capital gains tax break
Blog Post Washingtonians are united on balancing our tax code
Fact Sheet Qué necesita saber sobre la Initiative 1929 (Iniciativa 1929)