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Bill

HB 1614

Modifying the capital gains tax.

2025-2026 Regular Session Introduced by Julia Reed and 2 co-sponsors

Washington HB 1614 modifies the state's 7% capital gains tax through unspecified changes approved by House Appropriations committee with mixed support.

Referred to Rules 2 Review.
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Bill Summary · HB 1614

Legislative bill overview

HB 1614 modifies Washington State's capital gains tax, which currently applies a 7% tax to long-term capital gains exceeding $250,000 annually. The bill's specific modifications are not detailed in the action summary provided, but the recent committee activity indicates substantive changes were proposed through a second substitute version that received majority support for passage.

Why is this important

Washington's capital gains tax is a significant revenue source for the state and a contentious policy area affecting investment behavior, wealth distribution, and state funding for education and infrastructure. Changes to tax rates, exemptions, or thresholds can impact both high-net-worth individuals and state budget allocations, making this a fiscally consequential measure.

Potential points of contention

  • Tax rate and revenue impact: Disagreement over whether modifications increase or decrease tax burden and state revenue, affecting budget priorities
  • Economic competitiveness concerns: Debate over whether changes make Washington more or less attractive for investors and businesses relocating to the state
  • Scope of taxable gains: Questions about which capital gains are subject to tax, exemptions for specific asset types, or threshold adjustments that benefit certain taxpayer groups

Compiled from official sources — confirm details with the bill’s official record.

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