Via the League of Education Voters:
There has been and will continue to be a lot of talk about what I-1098 does for the adults in Washington State – cuts state property taxes for everyone, eliminates or cuts B&O taxes for the vast majority of businesses in our state, and establishes a modest income tax on just 1.2% of taxpayers etc…
But what does it do for those who can’t vote and don’t pay taxes — our children?
By now you might have heard that the state Office of Financial Management estimated that Initiative 1098 will generate a net $2 billion plus per year. The initiative secures this revenue into a trust that can only be spent on education and health care (70% for ed. and 30% for health).
“Ok,” you say, but like a lot of us you naturally have few more questions:
- “What exactly does ‘education’ mean within the context of I-1098?
- Where would the money go exactly?
- Does it only go to K-12 and higher ed or does it cover early learning too?”
I am going to wade through all the legal language and the different account requirements to get clear answers to these questions – questions that matter to people who not only care about education in general, but also about the details.
More To Read
March 24, 2023
Women’s Labor is Women’s History
To understand women's history, we must learn the role of women - and especially women of color - in the labor movement
March 24, 2023
Victory! Washington Takes a Critical Step Towards Balancing our Tax Code
Washington state supreme court upholds the capital gains tax
February 15, 2023
Podcast: Getting to Lower Health Care Costs in Washington
EOI's Sam Hatzenbeler joins Washington's Indivisible Podcast to discuss our state's health care costs crisis and what the legislature can do to solve it