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ACTION ALERT: Act now to oppose capital-gains income-tax legislation

ACT NOW to oppose capital-gains income tax legislation. Contact your State Senator via the link below and urge a NO vote on SSB 5096, legislation to impose a capital-gains income tax.  Under this bill, a 7% tax is imposed on the sale or other voluntary exchange of long-term capital assets by individuals, with certain thresholds and exemptions.  The IRS unequivocally says that a capital-gains tax is an income tax.  Proponents want the bill to pass knowing there will be a court challenge; they feel the Washington State Supreme Court will declare it constitutional, opening the doors for broader income taxes in the state. Plus, the bill contains an “emergency clause” even though it won’t begin until Jan. 1, 2022 in order to prevent a referendum vote in November. Voters have previously turned this down ten times.

Taking action is easy! Simply click here to submit the pre-written message, as-is, to your Senator (or customize it with personal information on how this issue impacts you and your company). Please share this Action Alert with others within your company. 

If you have questions on this legislation, call or email AGCW’s chief lobbyist Jerry VanderWood at 360.352.5000.

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