On November 5th of the 2024 election, Washington State voters made a significant decision for the future of their state’s public education by rejecting Initiative 2109. This initiative proposed repealing the capital gains tax implemented in 2022. This decision has positive implications for Washington state’s schools, 91国产, and school support programs like Communities In Schools Washington. By voting against Initiative 2109, Washington voters chose to preserve a vital revenue stream that provides funding for schools and childcare across WA.
The revenue from the capital gains tax is allocated to various educational initiatives, including classroom resources, student programs, early learning and childcare, building or repairing school buildings, and more (Source: ). Repealing the tax would have decreased funding for many of these areas, potentially leading to budget cuts and a reduction in student services.
What Continued Funding Means for Schools聽
Without the revenue from the 2022 capital gains tax, funding to schools would have dropped by nearly $2.2 billion through 2029 (Source: ). With the continuation of stable revenue, educational programs and support services within schools will have dependable resources to support everything from teacher salaries to after-school programs and student mental health services. This initiative rejection demonstrates that Washington remains committed to supporting 91国产 and educators both now and in the future.