Looking to the future
All of these changes are bound to affect the WA Cares program’s financial outlook.
Already, the 0.58% payroll tax isn’t projected to keep the program solvent for the next 75 years. According to the most recent available analysis, the WA Cares fund is projected to run out of money in just over 50 years, by 2075, unless the Legislature raises the payroll tax slightly.
Alternatively, the program’s financial outlook could be improved if the program is allowed to invest in stocks, which offer a higher average rate of return. That change is something Washington voters recently rejected at the ballot box, however.
The new proposal to
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