I am writing in response to the two-year state budget that Senate Republicans released this Tuesday. The budget cuts vital services in health care and other critical needs across the state and does not raise the necessary revenue to fully fund education for our kids.
I encourage all of our legislators to do the budget the right way and vote to clean up our tax code, which is the most upside-down in the nation. A good start would be to close the loophole on capital gains, which is a tax on the profit of more than $50,000 per year on the sale of luxury investments. Closing this one loophole could raise close to a billion dollars per year — money that can be invested in a smart and healthy future for our communities.
Moonsung Kim, Federal Way