Initiative 2109|
|
|
Choice |
Votes |
% |
| ✔ Yes |
1,364,510 |
35.89% |
| ✖ No |
2,437,419 |
64.11% |
| Valid votes |
3,801,929 |
100.00% |
| Invalid or blank votes |
0 |
0.00% |
| Total votes |
3,801,929 |
100.00% |
|
|
|
Congressional district results
|
Yes
90–100%
80–90%
70–80%
60–70%
50–60% |
No
90–100%
80–90%
70–80%
60–70%
50–60% |
Other
Tie
No votes
|
|
Initiative No. 2109 (I-2109) was a ballot initiative in the U.S. State of Washington that appeared on the ballot on November 5, 2024. The initiative was brought to the state legislature by Let's Go Washington, a Redmond-based political action committee founded by businessman and hedge-fund manager Brian Heywood. The initiative would have repealed SB 5096, which created a 7% capital gains tax on the sale of long-term capital assets (i.e. stocks, bonds and business interests) worth more than $250,000 in Washington state since 2021. Real estate sales are already exempt from the tax.
The effort to repeal I-2109 began in 2023, following a ruling of the Washington Supreme Court upholding the constitutionality of the capital gains tax. I-2109 collected a total of 436,474 signatures, and was ultimately certified and introduced to the legislature for their 2024 legislative session. Senate majority leader Andy Billig (D) and Speaker of the House Laurie Jenkins (D) announced on February 16, 2024, that the state legislature would not hold hearings on the initiative. This decision not to take action on the referred initiative placed the decision on the question to the November 5, 2024 election.
