WASHINGTON, USA — There will be four initiatives on the November ballot, and here is what they all mean.
If passed, I-2109 would repeal the 7% capital gains tax imposed on sales and exchanges of long-term capital assets by individuals with capital gains over $250,000.
Since 2022, sales including stocks, bonds, business interests, or other investments have been subjected to the capital gains tax.
Money from the tax goes to measures like childcare subsidies for qualifying families, bonuses for childcare centers offering hard-to-cover hours, and school construction. The tax went to the state Supreme Court in 2023 and was ruled constitutional.
Roughly 4,000 Washingtonians paid the tax in 2023.
This initiative aims to repeal the 2021 Washington State Climate Commitment Act, a state law that provided a "cap and invest" program designed to reduce greenhouse gas emissions by 95% by 2050.
The program sets a cap on the total carbon emissions within the state and forces businesses with emissions that exceed 25,000 metric tons of carbon dioxide per year to purchase allowance permits equal to their emissions.
The passing of Initiative 2117 would prohibit state agencies from implementing any cap and trade or cap and tax programs.
Initiative 2066 would prohibit state and local governments from restricting access to natural gas and would prohibit the state building code council from prohibiting, penalizing and discouraging the use of natural gas in any building.
If passed, I-2066 would also require gas companies, utility companies or any city or town that provides natural gas, to provide it to any person and or corporation even if other energy services or sources may be available to them.
Under Initiative 2066, the Washington Utilities and Transportation Commission would be prohibited from approving any multi-year rate plan requiring or incentivizing a natural gas or utility company to get rid of natural gas services. They also can't implement requirements that would make access to natural gas services cost-prohibitive.
Initiative 2124 is all about state long-term care insurance. The initiative would allow employees and self-employed workers to opt out of coverage under WA Cares.
WA Cares is paid for by a mandatory payroll tax and provides long-term health services such as nursing home care and home health care to qualifying individuals.
Supporters of this initiative say that workers should have a choice to "opt out of the program", and may find long-term, private, care insurance to be better for them.
People against the initiative say that millions of working Washingtonians are counting on the fund to pay for their care in case of an injury, an illness or their age. Voting yes would mean repealing the program.
