The Millionaires Tax - A Monumental Win for Health in Washington
“In my 35 years practicing medicine in Washington, I have seen nothing that compares to the Millionaires Tax in its ability to improve the health of my patients. A fairer tax system and the resources to build a robust social safety net is by far the most impactful health intervention.”
-Dr. Charles Mayer, practicing family physician and Co-Chair of the WPSR Economic Inequity & Health Task Force
This week, members of WPSR’s Economic Inequity & Health Task Force joined Governor Ferguson at the Capitol as he signed the Millionaires Tax into law. This marks a historic step towards balancing the unjust tax code which keeps health out of reach for many Washingtonians. The tax applies to less than 0.5% of the state’s working population and will generate $3 billionannually for critical social services that will directly improve health.
Research consistently demonstrates that more equitable societies experience lower mortality rates, longer lives, and greater overall well-being. Recent data from the Institute of Health Metrics & Evaluation shows that Washington State has fallen even further behind in life expectancy globally. There are stark disparities in health and life expectancy across Washington counties, mainly due to economic inequity.
Psychologist Josie Tracy underscored these disparities in her testimony to the House Finance Committee in support of the Millionaires Tax, stating that residents of San Juan County, one of the state’s wealthiest counties, are expected to live nearly 15 years longer than those in her birth county of Pend Oreille, a lower-income county.
Fourth-year medical student Gleb Sych also delivered a powerful testimony in Olympia:
“Again and again, I watch patients struggle not with medical advice, but with affordability itself. Medications are skipped to save money, appointments are missed while arranging childcare, and daily stress makes prevention nearly impossible.”
The final legislation, achieved through the hard work of lawmakers in the House and Senate, includes funding for education, childcare, early learning, food assistance, health care, and a critical expansion of the Working Families Tax Credit. Amidst federal attacks on our health, it is more critical than ever to prioritize our state’s social safety net.
The Millionaires Tax represents a monumental step towards building a Washington where all communities, regardless of income, can thrive and experience long and healthy lives.
Click here to learn more about why progressive revenue is health policy
Click here to learn more about why progressive revenue is health polic
