Statement from Rep. Drew Stokesbary on today’s Washington State Supreme Court capital gains tax ruling

Statement from Rep. Drew Stokesbary, R-Auburn, ranking member of the House Appropriations Committee and member of the House Finance Committee:

“Today’s ruling is an unfortunate loss for businesses and employees across the state. I’m disappointed a majority of the Supreme Court justices ignored the common-sense fact that is plain to Justices McCloud and Johnson, the IRS, and every other state in the country – capital gains are income. By endorsing the Legislature’s word games, today’s ruling provides a blueprint for future tax increases authored by clever legislators who now know they can circumvent the state’s constitutional tax limits by merely labeling any new tax as an excise tax.”


Washington State House Republican Communications