As an engineering and physics teacher in Federal Way, and a 35-year resident of Washington, I’m very pleased with the budget that the House Democratic Caucus released last week. The budget represents a common-sense approach to two problems that have long troubled our state — our poorly funded education system and our upside-down tax code.
The proposal addresses the Supreme Court’s ruling that we fully fund our children’s education, while at the same time making the investments needed to support thriving communities across the state. Most importantly, it pays for these investments in a responsible and sustainable manner. It does so by closing tax loopholes created by powerful special interests, including the loophole on capital gains profits, which will be paid by only the wealthiest 1.5 percent among us and will generate more than $700 million annually. We are one of only eight states that has this loophole.
As the House and Senate start negotiating this bill, I ask our representatives to work together in enacting these long-overdue proposals into law.
Michael Ragan, Federal Way