OLYMPIA – Sen. June Robinson (D-Everett), vice chair of the Senate Ways & Means Committee and prime sponsor of Senate Bill 5096, released this statement following the Washington State Supreme Court’s ruling in Quinn v. Washington:
“Today’s decision is the culmination of over a decade of work to fix our upside-down tax code and rewrite the rules to make a system that’s fairer for everyone. With the capital gains excise tax, we will be able to better invest in our children, in our schools, in our teachers, in our families. We will invest in opportunities for our neighbors, making sure every person in every community has the supports and systems they need to thrive.
“Our state has one of the most regressive tax codes in the nation. A Washingtonian making low wages pays almost 18% of their income to state and local taxes, while the wealthiest among us pay about 3%. This places a terrible, disproportionate burden on working families and small businesses, and it makes our economy more vulnerable to a recession.
“This is a key first step toward a more fair and equitable tax system — one that asks the wealthy few, about 7,000 people, to be part of investing in our state’s thriving future by paying what they truly owe in taxes; one that fosters, not stifles, a flourishing economy and the health and success of all Washingtonians.”
View the full opinion here.
