capital gains tax


We can’t keep falling for the myth of ‘billionaire tax flight’

BY: - December 1, 2023

“Did you hear? Jeff Bezos is moving from Seattle to Miami!” Yes, I heard. And as someone who advocates for a more just tax system in Washington state, I braced for what I would hear from progressives and conservatives alike about the Amazon founder’s move.  Bezos himself said that he decided to move to Florida […]

Crime, taxes and artificial intelligence on tap as WA lawmakers prep for session

BY: - November 27, 2023

Rising costs of transportation projects. Using artificial intelligence in Washington classrooms. Preserving affordable housing. Spending proceeds from the state’s new capital gains tax and recent cap-and-trade auctions. Those are a few topics state lawmakers will delve into when they return to Olympia for committee days, an annual fete in which they get schooled on issues […]

State hauls in nearly $900M from first year of capital gains tax

BY: - November 15, 2023

Washington’s new capital gains tax brought in $890 million in its first year, state officials said Wednesday. Those proceeds, garnered from the state’s wealthiest residents, will be funneled into early learning and child care programs, and to school districts in need of dollars for construction and renovation projects. “The new funds could not come at […]

Sparring on WA initiatives begins as signature-gathering continues

BY: - October 20, 2023

Brian Heywood didn’t bristle Friday on hearing initiatives he’s bankrolling with his own millions came up big losers in polling carried out by opponents of the measures. The conservative hedge fund manager laughed. “I hope they believe their polls with their entire souls,” he said. Heywood has provided $5 million for signature-gathering for six initiatives. […]

New forecast shows state cashing in on capital gains tax

BY: - June 27, 2023

Tax collections are up and Washington’s wealthiest residents are fueling the surge, the state’s chief economist said Tuesday. A new forecast projects state revenues will reach $66 billion for the two-year budget cycle beginning July 1, an increase of $327 million from what chief economist Steve Lerch predicted in March.  The same analysis shows revenues […]

State rakes in nearly $850M from capital gains tax

BY: - May 25, 2023

A new capital gains tax is delivering huge dividends for the state. Washington hauled in nearly $850 million in first-year collections, which is more than triple the amount lawmakers counted on when they passed a new budget in April. The unexpected first-year bounty will be poured into early learning and child care programs, and school […]