WE DID IT! Thank your lawmakers for passing SB 5096!

Historically, Washington State’s tax code favored the super-wealthy: thrusting the burden of taxation onto working people, chronically underfunding our social systems, and robbing our communities of the support they need.

Right now, everyday people are facing a state of emergency: more than 1.4 million workers have filed for unemployment, thousands of small businesses have shuttered, and millions of households are struggling to balance childcare and work. Meanwhile, the wealthiest in our state are getting even richer.

But this gross inequality will not stand. Everyday people have shown up demanding our lawmakers make a change.

This week, the Washington State Legislature passed SB 5096: a law imposing a 7% tax on capital gains (the payouts from Wall Street investments) over $250,000 per year. This is a historic victory in the fight against inequality—especially in a state that has systematically blocked the redistribution of wealth for decades.

SB 5096 only passed because of massive grassroots pressure from people like you—thousands of letters, emails, tweets, and calls to your elected representatives. We’re grateful so many of our legislators listened.

We need our elected representatives to continue to fight for policies like this. Let’s thank them for this historic step, and encourage them to keep up the fight.

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As your constituent, I want to thank you for supporting SB 5096 and passing a capital gains tax in Washington State. Given our current economic crisis, our chronically underfunded social systems, and the scale of inequality in our state, it is only fair that the super-rich finally pay their fair share.

The revenue realized from this new tax will allow Washington to invest in the people, small businesses, and social systems hit hardest by the pandemic—and finally make real progress towards a more equitable tax structure.

This legislation marks a historic shift towards progressive taxation in Washington—after decades of overtaxing everyday people while handing out tax breaks to corporations and the rich. Thank you so much for this shift in policy, and I hope it’s the beginning of a new era for our state.

I encourage you to sponsor, support, and defend further legislation like SB 5096. Make Washington a leader in the fight against inequality, a defender of robust social programs, and a supportive home for all. This policy is a crucial step in the right direction.

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