Suchergebnisse

In 2009, Washington's legislature slashed billions from the state budget, adding to the misery of recession by cutting services, jobs, and incomes of public servants. Virtually every area of state government was affected, including K-12 education, higher education, health care, the social safety net, and public safety.Directly and indirectly, those state budget cuts are costing Washington an estimated 44,000 jobs.With the economy only tentatively recovering from the deep hole of this long recession, the state now faces an additional budget gap of $2.6 billion. If the legislature were to cut that entire amount from state services, our state would lose another 33,600 private and public sector jobs. Even a $1 billion reduction in state spending would trigger losses of 13,000 more jobs.In contrast, maintaining state services through a combination of $1.6 billion in new state taxes, plus $1 billion in enhanced federal aid and transfers from other funds would result in a net savings of 18,600 to 29,000 jobs for the working people of Washington.

This fact sheet summarizes a budget solution that closes Washington's $2.8 billion shortfall this year -- and provides long-term budget stability in future years. By closing tax exemptions that no longer serve a compelling public purpose and carefully choosing new sources of revenue, lawmakers can stabilize funding for quality schools, affordable health care, a safety net for the most vulnerable, affordable housing, public safety, and a clean environment. This responsible approach will help balance the state budget without eroding the high quality of life that makes our state a great place to live, work, raise a family and do business.

Washington has had an inheritance or estate tax since 1901. The United States has had an estate tax in place since 1916. Initiative 920, which would have repealed Washington's estate tax in November 2006, was resoundingly defeated by the people, 62% to 38%. Our estate tax raises over $100 million annually, on average.

Washington's public colleges and universities are a critical resource for building a prosperous future for our state and fulfilling the promise of opportunity for all. Without strong public institutions of higher education, our youth will be stymied in striving to reach their full potential, and our state will not remain competitive in the global economy. Yet over the past two decades, the state's financial support for higher education has not kept pace with population growth and rising costs. Public institutions differ from private colleges and universities in their commitment to providing access to higher education and improving the well-being of all state residents. The University of Washington, in its statement of values, describes "Being Public" as follows: "As a public university we are deeply committed to serving all our citizens. We collaborate with partners from around the world to bring knowledge and discovery home to elevate the quality of lives of Washingtonians." As centers of education, research, and innovation, public colleges and universities spur economic development throughout the state. Washington's business leaders have long expressed the need for a more highly trained workforce, with more public investment in every level of education, from preschool through graduate study. Governor Christine Gregoire said in her 2009-11 Budget Proposal, "Washington's public colleges and universities are the economic engine that drives the state's economy and will drive our recovery." To build a strong foundation for Washington's future, we must increase public investment in higher education as a part of upgrading our whole public education system. Doing so will require identifying new sources of public revenue.