Washington state’s education chief is urging for a capital gains tax to fund schools.
State Superintendent of Public Instruction Chris Reykdal on Tuesday released his 2019-21 budget request that suggested taxing earnings from the sale of stocks, bonds, and other assets to create a $2 billion pot of money for education over the two years. Half of that would go toward offsetting the statewide property tax that funds K-12 schools. The rest of the money would fund other education priorities, including special education, longer school days, school nurses and counselors, mental health, dual-language programs, and school safety.
Reykdal’s proposal now goes to Governor Jay Inslee. The Washington Legislature considered a capital gains tax in session earlier this year but it failed to come up for a vote. (AP)
