Statement from Rep. Ed Orcutt on the certification of Initiative 2109

The Secretary of State has certified Initiative 2109 (Concerning taxes on long-term capital assets). During floor action earlier today, House Republican Deputy Leader Mike Steele offered a motion to instruct the House Finance Committee to promptly hold a public hearing on Initiative 2109. House Democrats rejected the House Republican motion on a party-line vote. You can watch Rep. Steele’s floor speech and the vote in this video.

Rep. Ed Orcutt, ranking Republican on the House Finance Committee, released the following statement on the certification of Initiative 2109:

“House Republicans opposed the capital gains income tax in 2021 arguing that it was unstable, unpopular, and unnecessary. We know this tax is volatile, that Washingtonians do not like state income taxes, and our state already has enough revenue to pay for its priorities without this tax on income. By repealing this controversial tax, which many see as a step toward a state income tax, we will help our economy grow and create more jobs in the future. The Legislature should repeal this tax this legislative session.”

###

Learn more:

###

Washington State House Republican Communications
houserepublicans.wa.gov