Matter of interest

Few people in Washington would knowingly choose to give less to children while providing more for large national banks. That’s exactly what has been happening since the 1970s. House Bill 2078 would close this outdated and out-of-touch tax loophole to large out-of-state banks and redirect the revenue to lowering class size in the earliest grades.

Banks are saving millions while our local schools are losing millions. Since 2002, District 81 has been allocated $60 million less. HB 2078 would eliminate the tax break on interest earned on first mortgages by the largest, national, out-of-state banks and dedicate the funds to K-3 class-size reduction. Wisely, the bill excludes locally based banks.

Research shows that students in small K-3 class sizes have better high school graduation rates, outperform students placed in larger class sizes, post improved student achievement and move ahead of their peers in their schoolwork by several months.

We cannot and should not support a tax break for bank conglomerates when a chance exists to put that money to better use for our state’s youngest.

The vote on HB 2078 is imminent. Call the Legislative hot line now and speak up for kids.

Lisa Layera

Spokane