| “To clarify any confusion on the matter, by action of the Executive Board, the Washington State Democratic Party has endorsed I-1098.
The WSDCC has consistently supported an income tax in Washington through Resolution and Platform language.”
Dwight Pelz, WSDCC Chair, 5/27/10
The details of I-1098
The initiative would
- Result in a 20 percent cut in the state share of the property tax;
- Eliminate B&O taxes for more than 375,000 small businesses, which would exempt about 80 percent of tax-paying businesses in the state;
- Impose a high-earners income tax on only the wealthiest 3 percent of households couples with joint income of $400,000 a year ($200,000 and up for individuals);
- Generate about $1 billion per year as a stable revenue source for priorities like K-12 education and Basic Health coverage.
Who is sponsoring I-1098?
Washingtonians for Education, Health, and Tax Relief is a growing coalition of business, labor and respected civic leaders, like Bill Gates, Sr., who seek to cut taxes for middle-class families, create thousands of new jobs across the state, and provide a stable, dedicated funding source for education and health care.
Why?
At a time when 40,000 state residents have lost Basic Health coverage, funds to reduce class sizes have been slashed, and thousands of Washingtonians have lost their jobs, we can no longer afford a tax code that overburdens middle class families, penalizes job-creating small businesses across Washington State, and creates harmful boom-and-bust cycles that undermine the state’s ability to provide core services.
That is why these respected community leaders are organizing a grassroots Yes on 1098 campaign working to place Initiative 1098 on the November ballot. It is time for real tax reform that benefits the middle class and provides the funding we need to protect education and health care vote yes on I-1098.
Please note that the initiative number has been switched from 1077 to 1098. http://www.yeson1077.com |
