Washington State Tax Fact #5: There’s No Real Education “Trust Fund”
Backers of the I-884 tax hike claim that the increase would create a “dedicated and protected” Trust Fund. This is misleading. What it actually creates is a statutory fund that legislators can override with a two-thirds vote at anytime. After just two years, the state legislature can scrap the I-884 “trust fund” with a simple majority vote and spend the new tax dollars anywhere.
As Washington’s voters know, this type of thing happens all the time—voter initiatives rarely resemble their original intent after a few years because of legislative manipulation.
The cost of I-884: The average person in Washington will pay $115 a year more in taxes to a fund that may not even go to education.