BREAKING: Prop 1A, the Seattle initiative that will implement a new tax on wealthy corporations to fund affordable social housing, is winning with 57.6% of the vote, according to preliminary election results.
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With more ballots counted today, Prop 1A’s lead over 1B has expanded to 58.2%-41.8%. Turnout is significantly higher than in 2023, with about 76,000 ballots left to count.
If we see a similar trend to the February 2023 election, the final margin could be around 26 points. This would be a resounding vote of confidence from Seattleites in the House Our Neighbors coalition, the Seattle Social Housing Developer, and the political vision they represent.
After today’s ballot counts, Prop 1A is now leading 1B by almost exactly 60% to 40%. The overall Prop 1 question is winning 70.5% to 29.5%. There are a little under 43,000 votes left to count, not including about 1,300 challenged ballots, many of which are “curable.”
Get ready for the biggest default in Seattle history. A big bond will be issued based on first year tax income. The big guns will then simply move their high earners across the lake or elsewhere. So little left to pay off the bond. Then things come crashing down as the city will left on the hook.
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(Also someone please let me dance as housey)