Balance Our Tax Code supports a broad set of policies that align with our vision of a more just and equitable state tax code, such as:
HB 1406 and SB 5426: Tax on Excessive Wealth: a new 1% tax on the value of stocks, bonds, and other financial intangible assets over $1 billion.
HB 1465: Make the Estate Tax More Progressive: eliminate the estate tax for smaller estates while raising the rates for higher valued estates.
SB 5182: Repeal Statewide Advisory Votes: Removes non-binding advisory votes from the ballot and adds more information about the Legislature’s budgeting and fiscal decisions to the statewide voter’s pamphlet.
HB 2009: Create a Guaranteed Basic Income Program: cash assistance for Washington residents whose income is 50% or below the area median income.
HB 1888: Technical fixes needed to implement the Working Families Tax Credit.
BOTC recognizes that other revenue proposals are being developed for the 2022 legislative session and the above list may change.
Balance Our Tax code broadly stands in support of new, progressive revenue and policy proposals that align with our values and evaluation criteria. We believe that budgets are moral documents and it matters who’s backs those budgets are balanced on. For this reason we support both raising new revenue and directing that revenue to be used to ensure that working families have what they need to thrive from healthcare to housing to food security. We only support tax cuts that are directly targeted to benefit low-income Washingtonians.
Ideas we support include:
Putting cash back in the pockets of those most impacted by Washington’s upside down tax code through guaranteed basic income, a renters credit, and reform of the legal financial obligation system.
Making sure that the wealthiest one percent pay what they truly owe through taxes and disrupt the inequitable concentration of wealth through an inheritance tax and corporate compensation tax.
Developing progressive solutions to equitably fund our communities through access to transportation systems, homes that are affordable for everyone, and relief from the impacts of climate change.