Initiative 1098 will reduce taxes for most Washington households by cutting property taxes and exempting small businesses from the business and occupation tax. I-1098 will also raise new revenue dedicated to education, health and long-term care by adding a modest tax on the wealthiest 1.2% -- the group that is now paying the lowest proportion of income in state and local taxes.
Washington has fallen behind in providing the education system and public services our people and businesses need to thrive in the global economy. The state struggled to fund upgrades to education and health care even before the recession. Budget cuts of the last two years have pushed us further behind. I-1098's reforms lay the foundations for stronger economic growth and greater opportunity for all people in Washington.