This election cycle, all of us as Washingtonians will be voting on Senate Joint Resolution 8201, which asks whether or not the state can invest the revenues from WA Cares.
All of Washington’s workers pay the premiums for these trust funds that pay for long-term care should you need it one day. It’s another failed and misguided entitlement program by Olympia Democrats.
Last year, I-2124 asked voters to reopen the opt-out window so that if Washingtonians wanted, they could get off the program. Unfortunately it failed to pass. A bill this past session asked to do the same thing. Democrats didn’t give it a hearing. It’s a bad program that we are stuck with.
I don’t like it. I’d rather it was repealed.
However, given that the current political climate makes repealing WA Cares impossible, investing the trust funds at the current premium rates protects taxpayers from unnecessary premium hikes. While it may be a bandaid for a failed program, it makes something that is bad less bad.
The reason why I say it makes it less bad is because there’s a strong possibility that Democrats will raise the premium rate to keep the program afloat, seeing that insolvency may be looming. Investing the funds will be the best compromise to give Washingtonians a win-win given the circumstances.
Now, there has been some very spirited discussion around SJR 8201. That’s a good thing. But we must get the facts straight.
1. This is not a Democratic-sponsored bill. It was sponsored by Senate Republican Leader John Braun, a fierce protector of taxpayers and an experienced legislator.
2. It passed both chambers with overwhelming supermajority votes. Very few Democrats and Republicans voted against it. It passed the Senate 42 yea, seven nay. It passed the House 86 yea, nine nay.
3. The investing of WA Cares funds is not touched by legislators from either party, per court rulings. (This defeats the argument that Democrats would take it for DEI and climate projects.)
4. The non-partisan Washington State Investment Board would handle the investing of the funds. The board has a historical return rate of 9%, and one of the most diverse investment portfolios in the nation, guaranteed to ensure money won’t be lost. They currently handle the state’s investments on pensions and retirement funds, where they rank the best in the nation on returns. They are bound by the highest fiduciary standards.
I’m voting to approve the resolution because I want to protect myself, my working neighbors and my fellow Washingtonians by keeping the state from further reaching into my paychecks.
I’m not advocating for the WA Cares program. I’m simply pointing out that I don’t want to pay more. It’s common sense.
Join me in approving SJR 8201 to protect taxpayers.
Anthony Mixer
Chehalis
