As working moms, advocates, and leaders of Stand for Children Washington, we believe every child in Washington deserves the chance to succeed as they move along the full development continuum. This starts with giving children access to safe, reliable childcare and enriching early learning experiences and continues with providing them with a relevant, high-quality education through our K-12 public school system.
Initiative 2109 threatens to remove crucial funding for these programs by repealing the capital gains tax, which generated nearly $900 million in revenue in its first year. Funding from the tax has been a game changer for Washington’s education system, with $500 million going directly into the Education Legacy Trust Account, which funds early learning, child care, and K-12 public schools. Funds exceeding that amount are used for critical school construction projects.
Kia C. Franklin
Public schools and families will suffer if passed
Repealing this tax would pull billions from our education system, worsening a budget deficit that has already forced Seattle Public Schools to consider closing schools. In our advocacy work, parents and educators have told us firsthand accounts of the effects of underfunded classrooms—such as students trying to learn next to buckets collecting rainwater leaking through a failing roof.
Liz Trautman.
A repeal would also make childcare even more inaccessible for families like ours. We are already grappling with how to manage these sky-high costs, which are the equivalent of another mortgage or monthly rent payment. We’ve both weighed the price of care against our own wages and opportunity costs, trying to determine if it’s worth it for one parent’s wages to go mostly to pay for care.
Less accessible childcare
When schools are underfunded and child care is less accessible, we all suffer. Voters across all tax brackets recognize that strong public infrastructure benefits everyone, including businesses and communities across the state. They believe, as we do, that we’re all in this together and that if I-2109 passes, not just every parent and child across the state, but every Washingtonian, will be affected.
Passage would harm BIPOC families
Worse still, according to the Washington State Budget & Policy Center, I-2109 would disproportionately harm communities of color, who are already burdened by Washington’s regressive tax system. Due to longstanding systemic inequities, Black, Latino, and Indigenous families are overrepresented among low- and middle-income groups, meaning they contribute a higher share of their income toward state and local taxes. I-2109 would compound the historically racist housing and economic policies that negatively impact Black and brown people, immigrants, and working families by stripping critical funding for education, childcare, and other essential services.
I-2109 was designed to benefit the wealthy few at the expense of the many. It was bought and paid for by a hedge fund millionaire who will definitely benefit if it passes. Why should the
wealthiest get another tax break when the rest of us are working hard to ensure our kids get what they need?
Repeal won’t help families
Let’s not fall for the misleading claims that this will help regular families—it doesn’t. Our families will never pay the tax and yours probably won’t either. The capital gains tax was designed to apply only to the richest people in our state, not low- and middle-income families or small businesses. It only affects the wealthiest 1%—those making over $250,000 from the sale of stocks or bonds. Retirement accounts, real estate, and family-owned farms are exempt. And there are plenty of wealthy families who oppose I-2109 because they understand that despite the so-called “benefit” of a reduced tax impact, it doesn’t actually serve them in the long run.
It’s about fairness
This is about who pays their fair share, and it’s a matter of justice for our kids, our communities, and our future. We should be working to build a state where everyone chips in to make sure our children have what they need to thrive. Let’s stand together and vote No on I-2109—for the future of our kids and the strength of our public schools.
Liz Trautman, of Seattle, is the Executive Director of Stand for Children WA. She has worked with youth advocates to advance more than a dozen statewide policies to support students and families in Washington.
Kia C. Franklin, of Sea-Tac, is the former Executive Director of Stand for Children WA and an education equity advocate dedicated to working alongside communities to create transformative change for students.
