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RPEC Weekly ACTION Newsletter – 2-26-2021

RPEC Weekly ACTION Newsletter – 2-26-2021

IN THIS ISSUE

  • Action Item: Contact Senators to Support SB 5096
  • Bill Status Update
  • Weekly Legislative Update Zoom Call

Action Item: Contact Senators to Support SB 5096

Action Item: Contact your Senator and ask them to support SB 5096, which would address the upside-down tax code by taxing high-end capital gains.

The state legislature switchboard is 1-800-562-6000. You can also locate their email address here: https://app.leg.wa.gov/memberemail/

This bill has passed out of the Senate Ways & Means committee and is awaiting a possible floor vote. We are hopeful that Senate will keep the forward momentum on this bill and hearing from retiree constituents will help those efforts.

SB 5096 would:

  • add a 7% tax on high-end capital gains – such as sales of stocks and bonds – only on profits greater than $250,000
  • raise more than $550 million annually for early learning programs, education legacy trust and other programs to support equity, justice and fairness
  • impact just 2% of the wealthiest Washingtonians

SB 5096 would NOT apply to gains from the sales of assets from:

  • retirement accounts,
  • small businesses,
  • residential real estate, or
  • farmland, timber, or livestock

Bill Status Update

Great News! SB 5021, which would protect the retirement benefits of current employees furloughed due to the pandemic passed the Senate earlier this week. Thank you to all members who contacted their Legislators on this bill.

The full list of bills that we are tracking and their current status can be found here: https://rpecwa.org/bill-summary-2-26-2021/

Weekly Legislative Update

Each week we will host a Zoom call to provide an update on the status of RPEC’s Legislative Priorities and answer questions from members. The calls will take place at 1pm each Friday through the end of the Legislative Session. The Zoom login information will be the same each week.

To join the weekly update calls:

Via Computer or tablet:

https://us02web.zoom.us/j/82866346713?pwd=NkVEY2NsL1J6Z0dmQ0xEdjQyTnFwQT09

Or, go to: https://zoom.us/join
Meeting ID: 828 6634 6713
Passcode: 205507

Via Phone: Dial: (253) 215-8782
Meeting ID: 828 6634 6713
Passcode: 205507

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