Removing the Cap on Employer Payroll Taxes (SB 5796)

This would remove a loophole that allows wealthy corporations to avoid paying payroll taxes on the highest salaries, which fund social programs.

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Hello,

I am writing to ask for your support on removing the cap on the wealthiest employers’ payroll taxes, SB 5796.

In Washington, we all see the value in our social safety net. I want to live in a state where I can take time off to welcome a new child, see a doctor when I’m sick, and send my kids to the highest quality public schools.

Payroll taxes help fund our social programs, but we have an arbitrary cap that allows wealthy corporations to avoid paying payroll taxes on their employees with the largest salaries (above $176,100). This cap on payroll taxes only benefits employers with the deepest pockets.

Because past lawmakers created these types of exemptions for the wealthiest, Washington has the second most upside-down tax system in the country. Washingtonians working for minimum wage pay about three times as much of their incomes as their billionaire neighbors. Allowing wealthy corporations to hoard wealth tax-free has also led to our current struggles to fund our schools, health care, and services that help working people build a good life.

Removing the cap and allowing a 5% tax on salaries above $176,100 would raise more than $2 billion per year for Washington’s social safety programs.

Can I count on your vote to make the wealthiest corporations pay what they owe to our working communities?