Our proposal
A Long Term Solution
Our proposal is scalable. By combining an inclusive approach to homeownership with a straightforward proposal for funding, we can achieve a rapid increase in available housing units. This proposed plan for increased homeownership and first-rate housing options at middle income levels will foster an environment of equitable and sustainable housing for Seattle’s future.
Funding the proposal
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We believe that building a future with sufficient housing for all income levels of Seattle’s population is attainable. A moderate corporate tax would provide a fair way for Seattle’s rapidly growing technology companies to be part of the solution. As these companies are drawing more workers to the region every year, housing prices are quickly rising. This tax would allow the largest companies to provide a contribution that makes housing affordable for nurses, firefighters, and teachers as well as their own highly paid knowledge workers.
A version of this tax, titled “Jumpstart Seattle”, was originally passed in 2020 to address COVID-19 relief, affordable housing, and homelessness. This tax generated $231 million in 2021, impacting only 300 of the largest Seattle companies. By sustaining this tax over the long-term, our proposal can be funded through the utilization of the designated housing budget.
Our initiative also includes a 3% “empty homes” tax. This would redirect under-utilized and empty properties towards use as long-term homes for Seattle residents. By reducing vacancy rates and increasing funding for our affordable housing initiatives, we aim to address the supply and demand for market housing.
A Stronger Seattle for Decades Ahead
Housing Seattle’s entire population over the long-term in an environmentally and financially sustainable way is not only possible, but it is the most desirable outcome for all of our residents. Without a plan that bridges the current wealth gap and rethinks the current reliance on the market - that has so far proven unsuccessful - Seattle’s housing scenario may remain unchanged.
Everyone Benefits
Our proposal will help address income inequality, racial inequity, houselessness, and many other pervasive issues associated with the lack of middle-income affordable housing. Ultimately, our solutions extend beyond affordability alone. Rather, they seek to continuously better the standard of living, economic performance, and presence of safe communities within Seattle.
