Funding Our Future with the Tax Justice Initiative
The Tax Justice Initiative is designed to bring more resources and strategic coordination for state tax advocates. In just a year of the project, organizers, policy experts and lawmakers from 11 states have built a vibrant and unique cohort for state tax policy advocacy that shows promise for transforming the state revenue landscape.
Below are primary legislative priorities for groups participating in the TJI project during the 2024 legislative session.
CALIFORNIACalifornia has, in many ways, fought for working families through the tax code. Since 2017, California billionaires' wealth has gone up 80%, it’s time to be proactive as California's budget woes have returned. A tax on wealth over $50 million and billionaires is a way for California to prevent cuts to education and to advocate for a wealth tax to fund state services.
CONNECTICUTAs the Center on Budget and Policy Priorities has found, Connecticut has seen regressive tax cuts during COVID that will end up costing $1.59 billion in the next five years. These cuts contribute to a long-stating need for additional revenue for the community college and university system. The Connecticut for All coalition has an ambitious 2024 agenda that will rally people to demand tax justice for the public good.
HAWAIIHawaii has adopted several progressive revenue policies over the past few years. However, the fiscal situation (declining revenues and cost of helping the people of Maui recover from the fires) will require legislators to consider several new sources of revenue, including taxing capital gains at the same rate as other income. The Hawaii Tax Fairness coalition is dedicated to ensuring a prosperous future for our communities through smart and fair tax policy.
MAINEBy building power in the states, Maine and other states can ensure that the ultra wealthy pay what they owe so all of us can thrive. An important marker towards tax justice is tax transparency. Maine advocates are working to establish that corporations file a tax disclosure statement so that Mainers can be sure that wealthy businesses are paying their fair share.
MARYLANDMaryland lawmakers will face major budget decisions in 2024 and coming years as they choose between cutting services or raising new revenue. As federal COVID funds end, advocates are promoting the Fair Share Maryland Plan which would raise $1.6 billion annually (when fully phased in) by ensuring that corporations and the wealthy pay their fair share in taxes. This will enable t the state to meet current commitments and provide the public services our communities need to thrive. The Maryland Fair Funding Coalition is educating the public and legislators about the Fair Share Maryland Plan, which covers a range of policies, from closing corporate tax loopholes to creating new upper income brackets.
MINNESOTAMinnesota enacted a wide-ranging set of social and economic policies in 2023 to improve the lives of children, workers, and families, including universal free meals for public school students and a new paid leave program. To pay for these investments, policymakers adopted revenue-raising measures targeted to wealthy households and corporations, which made Minnesota’s tax code the most progressive, outside of Washington, DC.. This year, We Make Minnesota will be advocating for changes to individual income and corporate franchise tax provisions.
NEVADANevada doesn't have a legislative session in 2024 but legislators and advocates support a bill to establish a study of wealth taxes in the Silver State. In just a year working in the TJI, organizers and lawmakers in Nevada are establishing a vibrant and unique cohort for state tax policy advocacy that shows promise for transforming the state’s revenue landscape.
NEW YORKNew York legislators gave away over $1 billion in COVID-era tax cuts that primarily benefited the wealthy. Despite this, there is enormous energy to meet New York’s critical issues like a severe lack of affordable housing, inadequate support for asylum seekers, and diminished funding for public services that relied on COVID-era federal funding. The Invest in Our New York Campaign is poised to confront a rigged system that has decimated government services, leaving working-class people to struggle.
PENNSYLVANIAThe Pennsylvania Together coalition has been an active and growing voice for tax justice for several years. Now, after the tax cuts that will cost Pennsylvanians more than $3 billion over the next five years, the coalition is poised to advocate for additional revenue in the 2024 and 2025 budget and political debate. Their Fair Tax agenda contains important tax measures that will raise revenue while improving one of the most regressive tax systems in the country.
VERMONTVermont has significant unmet needs, while the state is expecting a revenue downturn as Federal COVID funds dwindle.. The Fund Vermont’s Future coalition launched the Fair Share for Vermont Campaign to increase taxes on the wealthiest Vermont residents to meet state needs. The coalition has been working closely with legislators on bills to create a surcharge on high incomes and to tax unrealized gains as personal income. Both bills have been introduced and are being discussed in committee.
WASHINGTONWashington State's recent leap to more bold, progressive taxes is proof that leadership can come from unlikely places. In Washington State's case -- a state with no income tax got creative and passed a capital gains tax that is already a huge success, generating hundreds of millions of dollars to fund childcare and early learning. Advocates in Washington State are happy with recent moves to address housing, education funding and other needs, but there remains a need to pay for these gains once surpluses and Federal money are gone, as they still have one of the most unjust tax codes in the nation. They hope to make progress on a wealth tax in 2024.
DEMAND THE WEALTHY PAY WHAT THEY OWE
For more information contact info@staterevenuealliance.org
BACKGROUND
Fund Our Future is a campaign launched by SiX Action and State Revenue Alliance. Our narrative and messaging is based on research led by ASO Communications and We Make the Future, in collaboration with State Revenue Alliance. We proudly acknowledge and are inspired by AFT’s 2019 campaign to redirect funding to education programs under the same Fund Our Future name.
