Sen. Mark Mullet (D-Issaquah) released this statement following today’s passage of Senate Bill 5096 to establish a capital gains tax in the state of Washington.

“I voted against the capital gains tax for a very simple reason. In my nine years in the Senate, I have never seen our state budget in a better position than it is now, in terms of cash on hand and our ability to make important investments.

“In my work as a lawmaker, I lean heavily on my financial background — and that background tells me we have the revenue to meet our needs. At the same time, my familiarity with my district tells me that my vote reflects the will of my constituents.

“I believe taxes should only be increased out of a need to fund and protect vital public services, and we are able to accomplish this today with existing revenue. In fact, we’re able to not only maintain services but make critical investments in childcare and early learning as we did today in passing the Fair Start Act.

“Time will tell, but I expect the capital gains tax to emerge as a referendum on the ballot this November, and I am eager for voters to be able to weigh in on this issue themselves, which is as it should be. When they do, I think the voters in my district will reaffirm that I represent their concerns faithfully.”