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 2276 and SB 6191: Make the Real Estate Excise Tax more progressive
Generates $220 million per year for affordable homes by increasing the tax on multimillion dollar property sales, and adding a transfer fee on sales above $3.025 million.
SB 5486 and HB 1473 : Tax on Excessive Wealth:
Fund our future by enacting a 1% tax on financial assets in excess of $250 million. Funds would pay for affordable housing, disability services, education, and tax rebates for working families.
HB 1045 and SB 6196: Evergreen Guaranteed Basic Income (GBI) Pilot Program
A two-year pilot program of unconditional cash payments to eligible families that help put food on the table and pay for everyday expenses.
HB 1075 and SB 5249: Expansion of the Working Families Tax Credit:
Extend life-saving cash payments to more working people by expanding the age range for recipients of the Working Families Tax Credit to include anyone over 18 years old.
HB 2094/2095 and SB 5987/5988: Close the Gift Card Loophole
Return $255 million per year to the general fund to support schools, roads, and community health by closing a loophole that allows big corporations to keep unspent gift card money as corporate profit.
SB 5125 and HB 1094 Washington Future Fund
Breaking the cycle of poverty for WA families by setting aside $4,000 for each child born in WA who uses Apple Health services in their first year of life.
BOTC recognizes that other revenue proposals are being developed for the 2023 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.