Millionaires' tax could ‘revolutionize’ WA education, OSPI chief says

State School Superintendent Chris Reykdal says a Democratic plan calling for a so-called "millionaires' tax" has the potential to "revolutionize" education in Washington state.

State Democrats estimate the proposed tax would raise $3.7 billion from high-income earners making more than $1 million, and would tax 9.9% of income over $1 million. The proposed tax would not apply to Washingtonians making less than $1 million.

"If it was almost solely focused on families trying to raise kids and giving young people the greatest opportunity, we would revolutionize education in the state, particularly higher ed access," Reykdal said.

RELATED: WA Democrats' 'millionaires tax' is here, but Ferguson doesn't support it yet

Speaking from Olympia on Thursday afternoon, Reykdal threw his full support behind the legislation.

"I want to say unequivocally, if not a single amendment happened to that bill, the Legislature should pass that," Reykdal said.

According to the Office of Superintendent of Public Instruction, Washington's public schools are funded primarily through by the state, with smaller funding pools coming from levies and federal support. However, unlike most of the country, Washington does not have an income tax. That's led some progressives to hail the proposed "millionaires' tax" as a way to rectify the state's "upside-down" tax code.

While Reykdal, a former Democratic House member, stated his role as state superintendent is not to participate in negotiations over the bill, he did appeal to the potential impact the tax could have on Washington's public K-12 schools, after several years of "persistent" budget challenges for the state.

This year, lawmakers in Olympia will tackle how to address a projected $2.3 billion shortfall.

RELATED: An icy reception for Gov. Bob Ferguson's proposed budget cuts

"This is a state that invests in young people, so I always start with, 'What are we trying to achieve in the state?' And then, does the tax code meet that?" Reykdal said. "The lawmakers are working very hard on this question right now."

Rekydal proposes using $760 million from Democrats' projected revenue to fully fund K-12 education in the state, fund free school meals for all public school students, and pay for two years of free in-state college tuition for all Washingtonians.

He says the tax revenue could also be used to cover fees for all dual credit programs, like Advanced Placement tests.

"You're a high school kid. We don't charge high school students to take classes — that's a basic ed right," Reykdal said. "If you're in Running Start, you shouldn't pay fees for that."

The investments could help close college completion rates, according to Reykdal. He said more than 70% of high school students in Washington leave their school with college credit. Only 55% then go on to attend a "traditional college."

Reykdal estimates that more than a million Washingtonians have started college but have not received a degree.

"What they increasingly tell me is, 'My family doesn't qualify for aid, and they didn't save up the tens of thousands, sometimes hundreds of thousands of dollars between housing, tuition, fees, and food for me to sit on a campus for four or five years,'' Reykdal said.

But Washington Republicans, and Gov. Bob Ferguson are pushing back against the bill in its current form.

"Washingtonians have rejected income taxes again in again because they know better," Rep. Travis Couture (R–Allyn) said in a statement to KUOW earlier this week.

Reykdal acknowledged the potentially rocky road ahead for the bill.

"It clearly needs to get through the courts, and it's clearly going to go to the voters," Reykdal said.