Capital gains tax at risk. Contact legislators!

Please contact Guy Palumbo, Mark Mullet, Dean Takko, and Steve Hobbs and ask them to support the capital gains tax bill SB 5314 (“Assisting Washington families by improving the fairness of the state’s tax system by enacting a capital gains tax and providing property tax relief”). They’re the ones who may prevent one from happening.

According to Andew Villeneuve of Northwest Progressive Institute, “it’s common knowledge in Olympia that those four senators have not committed to supporting a capital gains tax.” If you live in their districts, please contact them.

Indeed, the Seattle Times reports, “Takko was one of three moderate Democrats who said they were reluctant to support a capital-gains tax. Democratic Sens. Mark Mullet of Issaquah and Steve Hobbs of Lake Stevens also said they weren’t too keen on the idea.”

This article quotes Mullet as opposing a capital gains tax.

This article suggests that Palumbo might support a capital gains tax.

A capital gains tax is supported by Governor Inslee in his proposed budget.

We need an all out effort from constituents in Issaquah, Snoqualmie, North Bend, Kirkland, Bothell, Woodinville, and elsewhere in Palumbo and Mullet’s districts.

From facebook.

Hey all: I am the WEA-PAC manager for the Seattle council. In a board meeting today, WEA-PAC’s legislative director shared with us that capital gains is on shaky footing: the Senate leadership doesn’t want to bring it forward without cover from the House, and vice versa. Senators Guy Palumbo and Mark Mullet, both Democrats, have indicated they would be NO votes at this time. It’s far from a sure thing.

Contact your House and Senate representatives and ask them if they support Inslee’s capital gains proposal. Send a postcard or an email telling them to get behind it. This is basically the only idea that the Democrats have about generating revenue this legislative session. It’s time to let our legislators know that you as their constituent demand it. Please share this post if you think it will help.

I’d like to know why the senators oppose it. (Someone suggested they’re afraid of the Seattle Times editorial board.) Given our upside-down (regressive) tax system, a capital gains tax would be a step forward.

I’ve heard from reliable sources that Speaker Frank Chopps often instructs Democrats whose seats are in swing districts to vote against new taxes, to protect their seats. Some people think his caution is extreme and harmful.

Senators Hobbs and Takko were quite willing to raise taxes on the middle class in the June 2017 budget deal that raised real estate taxes to fund education. SB 5883 – 2017-18 (Click on View Roll Calls). But they are hesitant to taxes on the rich, it seems.

A NW Progressive Institute poll from last years suggests that a clear majority of Washingtonians support a capital gains tax to fund education. See Voters still want to bolster funding for public schools with a capital gains tax, NPI poll finds.