Voters on Tuesday were favoring a ballot measure to allow the state to invest money from Washington’s long-term care program in the stock market.
Senate Joint Resolution 8201, to allow the investment, was passing with 56.8% in Tuesday night’s vote count.
Voters were asked to amend the state constitution to allow the Washington State Investment Board to invest money from the WA Cares Fund into high-return investments like stocks and private equity.
The program is a state-run public fund that working Washingtonians pay into monthly with a 0.58% payroll tax out of their wages. Eligible individuals can access up to $36,500 to pay for things like in-home care, medical equipment or nursing homes beginning in 2026.
If the measure fails, the investment board will be limited to investing the program’s funds into options such as lower-yield bonds. This was the second attempt at gaining approval from voters after an initial attempt was shot down in 2020. The Legislature that year also approved the resolution with majority support from both parties.
The resolution was passed by an overwhelming majority in the state Legislature this year, but because it is a constitutional amendment, it required voters to weigh in.
Ballots will continue to be counted in the coming days.
Washington state election results for the Seattle mayoral race, Seattle city attorney race, King County executive race and more are in.
Throughout Tuesday, on this page, we’ll be updating readers on voting and elections in Seattle, Washington state and across the United States.
It’s the closest mayoral contest in over a decade, pitting a pillar of city politics against an upstart organizer.
King County, the state’s largest, with a budget larger than the city of Seattle, will elect a new leader for the first time since 2009.