{"id":2835,"date":"2023-03-03T17:57:31","date_gmt":"2023-03-04T01:57:31","guid":{"rendered":"https:\/\/senatedemocrats.wa.gov\/frame\/?p=2835"},"modified":"2023-03-03T20:46:42","modified_gmt":"2023-03-04T04:46:42","slug":"wealth-tax-hearing-legislation-passing-and-town-hall-soon","status":"publish","type":"post","link":"https:\/\/senatedemocrats.wa.gov\/frame\/2023\/03\/03\/wealth-tax-hearing-legislation-passing-and-town-hall-soon\/","title":{"rendered":"Wealth tax hearing, legislation passing, and town hall soon!"},"content":{"rendered":"

Hello friends and neighbors!<\/p>\n

We\u2019ve just passed the halfway point of the legislative session and I\u2019m excited to update you on the action. We\u2019re on the floor now, through March 8, passing bills through the Senate before we begin considering the bills that our colleagues in the House have passed over to us. It\u2019s a busy time \u2013 we\u2019ve passed more than 150 bills in the past week \u2013 but some great things are happening.<\/p>\n

Personally, I passed one of my important bills off the Senate floor earlier this week. SB 5280<\/a>, to make members of the clergy mandatory reporters of child abuse and neglect, got unanimous support from the Senate and is on its way to the House. You can read more about the bill on my website<\/a>, but the basic idea is that teachers and others currently who have close relationships with children usually have to take on the responsibility of being mandatory reporters of child abuse. Faith leaders have similarly trusted relationships with children in their communities and should share the same responsibility. I\u2019m glad that this protection for children is on its way to becoming law.<\/p>\n

I\u2019ve passed some other good bills too, like SB 5130<\/a> to help people in behavioral health crisis get what\u2019s called assistant outpatient treatment \u2013 a \u201cGoldilocks\u201d sort of option for someone for whom full involuntary commitment in a hospital is too much but who needs more support than just doing voluntary outpatient treatment \u2013 and SB 5229<\/a>, my rural economic development bill to help make sure all of Washington can benefit from the robust economic infrastructure that it takes to grow a thriving economy like we have here in the 36th<\/sup> District.<\/p>\n

We\u2019ve passed plenty of other good bills too \u2013 Sen. Marko Liias\u2019 legislation to promote transit-oriented development so we have more housing and density near public transportation, Sen. Karen Keiser\u2019s bill to cap the cost of insulin at $35 a month, and Sen. T\u2019wina Nobles\u2019 bill to guarantee that elementary school students get time for recess \u2013 which if you can believe it, some kids don\u2019t.<\/p>\n

We\u2019ve got a few more days until the deadline for bills to be passed off the floor on March 8, and I\u2019m excited to be keeping up the work!<\/p>\n

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What\u2019s Next \u2013 Wealth Tax Hearing<\/strong><\/p>\n

With floor action wrapping up, we\u2019ll be going back to considering bills in committees, and I\u2019m excited to let you know that the Senate Ways & Means Committee has scheduled a hearing on my Washington State Wealth Tax proposal next Thursday, March 9!<\/p>\n

SB 5486<\/a> would create a narrowly tailored property tax on extreme wealth derived from the ownership of stocks, bonds, and other financial assets, with the proceeds dedicated to education, housing, disability services, and tax credits for working families. The first $250 million of assessed value is exempted, meaning only the wealthiest people in Washington would pay the tax, including some of the wealthiest individuals in the world.<\/p>\n

As I\u2019ve said, the wealth tax operates similarly to Washington\u2019s well-established property tax on homes and real estate. By extending the property tax to include stocks, bonds, and other financial assets, the Washington State Wealth Tax ensures that extremely wealthy Washingtonians \u2013 some of the richest people in the world \u2013 are taxed on their assets just like middle-class families are already taxed on theirs.<\/p>\n

With our state facing unprecedented crises in access to affordable housing and meeting the needs of our students and our family members with disabilities, this bill will fund our future and invest in our communities. I\u2019m glad it\u2019s being heard, and I\u2019m hoping for your help to show the support in our state for the proposal.<\/p>\n

What You Can Do To Help<\/strong><\/p>\n

We know there\u2019s massive support in Washington for fixing our upside-down tax code and taxing the wealthy, but we need to show that in the committee hearing. Having folks signed in to support the bill is great, and you don\u2019t need to come to Olympia or actually testify to do it \u2013 you can sign up to support the bill, right now, and it\u2019ll take less than 30 seconds. Here\u2019s what you do \u2013<\/p>\n