Take action – Balance Our Tax Code

House Joint Resolution 4204

HJR 4204 would set up the Washington Future Fund to have the greatest impact in building intergenerational wealth. The Washington Future Fund (WFF) would invest $4,000 for every child who receives Apple Health during the first year of their life. This investment would grow in value over time and could be used for post-secondary education, buying a home, or starting a business.

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Please schedule a Floor vote for House Joint Resolution 4204.

The Washington State Constitution generally limits the state from investing funds in private stocks but does allow certain categories of public dollars to be invested more broadly. Current exemptions include public pensions or retirement funds, industrial insurance trust funds, and funds held in trust for the benefits of persons with developmental disabilities.

HJR 4204 would amend the Washington State Constitution to include an exemption for “…funds held for the purpose of reducing persistent poverty.” 
HJR 4204 would set up the Washington Future Fund to have the greatest impact in building intergenerational wealth. The Washington Future Fund (WFF) would invest $4,000 for every child who receives Apple Health during the first year of their life. This investment would grow in value over time and could be used for post-secondary education, buying a home, or starting a business.

Everyone deserves a chance to build their financial future, not just a few born into wealth. Right now, a baby’s economic future is determined mainly by the amount of wealth they are born into. Unfortunately, nearly HALF of the babies in Washington are born into poverty. And children in rural areas and those who are Black, Latinx, or Indigenous are more likely to be born into families with little or no wealth, hindering their future opportunities. This wealth divide is due to a long history in our country and state of stripping wealth from Black and brown people and allowing wealthy elites to hoard assets.

This constitutional amendment would benefit the WFF but also other poverty reduction strategies in higher-yield equities.

Please schedule a Floor vote for HJR 4204 so we can equip ourselves with the long-term strategies needed to address these systemic issues that were centuries in the making.