CCFA endorses No on I-2109

In November, voters will have the opportunity to uphold the state’s capital gains tax and protect vital investments towards child care by voting “no” on I-2109. This tax, which is paid by fewer than 4,000 people, generated over $2 billion to fund the Education Legacy Trust Account (ELTA) in the past few years. Funds in ELTA are slated to go towards early learning, public education, and higher education in the 2023-2025 budget. (For more information, check out this resource by Start Early)

We endorse the No on I-2109 campaign because we believe repealing the tax would make our child care crisis even worse. The tax would shift the burden of paying for necessary child care and education services from ultra-wealthy multimillionaires to families. Child care is simply too hard to find and costs families too much. The child care crisis costs the state $6 billion in economic losses, according to a recent study. The capital gains tax, paid by less than .2% of Washingtonians, is essential to help families who most need care. Now is not the time to give a tax break to the ultra-wealthy at the expense of children, youth, and families. That’s why CCFA is glad to endorse the No on I-2109 campaign, and we urge you to take action here.