When I released my budget, I said that we needed to reinvest in Washington. I stated that we need to find a sustainable, long-term solution to funding what we care about most: our schools, our infrastructure, our health, and our environment. To that end, I proposed that we raise revenues in two major ways: by charging our state’s biggest polluters and by introducing a capital gains tax.

It is an ambitious plan, and it’s one I believe we need in order to move our state forward.

Yesterday, the House released its budget, and while we’re still reviewing the details, I support the general framework of their plan.

Here’s why:

This budget is fair. It includes capital gains as a revenue source that would raise millions by taxing a small group of the wealthiest Washingtonians. It also raises revenue by closing tax loopholes.

This budget is balanced. By introducing new revenue streams like the capital gains tax, it allows for increased investment in our schools, our health, and our infrastructure.

This budget invests in our people. It provides funding for early learning, a tuition freeze, and mental health services.

This is an approach I can support.

I’m disappointed that the House didn’t include my proposed carbon market program because we know that a healthy environment is one more investment in our future that we need to make. I’ll continue to advocate for programs that will reduce carbon pollution, and am glad that the House leadership committed to continue working on this measure as budget negotiations continue.

The important thing to know is this: For nearly half a decade, we’ve been cutting essential services and neglecting our duty to invest in the future. That stops now.

It’s time, once again, that we invest in Washington.

Very truly yours,

Jay Inslee