2025 Washington Resolution 8201

2025 Washington Resolution 8201

November 4, 2025

Allow Investment of Long-Term Services and Supports Trust Fund in Stocks and Other Equities Amendment

SJR 8201, officially the Allow Investment of Long-Term Services and Supports Trust Fund in Stocks and Other Equities Amendment, is a legislatively referred constitutional amendment that will appear on the ballot in the U.S. state of Washington on November 4, 2025, concurrent with the 2025 United States elections.

Background

The Long-Term Services and Supports Trust Fund, also known as the WA Care Fund, is a long-term care insurance program that provides assistance to members of the state workforce as they age. It was signed into law in 2019 and survived an attempt to repeal it in 2024. It is funded as a 0.58% tax on the paychecks of workers in the state. ^[1]

In 2025, Governor Bob Ferguson and John Braun, the Republican leader of the Washington State Senate, joined together to support a ballot measure that would allow the state to invest in the stock market using funds from the WA Care Fund. After the initial announcement, it received support and opposition from both parties. ^[2]

Endorsements

Yes

Statewide officials

• Bob Ferguson, governor of Washington (2025–present) (Democratic) ^[3]
• Duane Davidson, former state treasurer (2017–2021) (Republican) ^[4]

State legislators

• 11 Republican state senators ^[4] , including:
  • John Braun, minority leader of the Washington State Senate (2020–present) and state senator from the 20th district (2013–present) ^[2]
• 13 Democratic state senators ^[4]
• 23 Democratic state representatives ^[4]

Labor unions

• Service Employees International Union 775 ^[5]
• SEIU 1199NW ^[4]
• Professional & Technical Employees Local 17 ^[4]
• SEIU6 Property Services Northwest ^[4]
• United Food and Commercial Workers Local 3000 ^[4]
• Washington State Labor Council ^[4]
• Washington State Nurses Association ^[4]

Organizations

• AARP ^[4]
• Economic Opportunity Institute ^[4]
• Planned Parenthood Alliance Advocates ^[4]
• National Organization for Women Seattle ^[4]
• Snohomish County Indivisible ^[4]
• Fuse Washington ^[4]
• ALS Association ^[4]
• National Multiple Sclerosis Society ^[4]
• Northwest Progressive Institute ^[6]

Political parties

• Washington State Democratic Party ^[4]

Newspapers

• Everett Herald ^[7]
• The Columbian ^[8]
• The Seattle Times ^[9]
• The Stranger ^[10]
• Tri-City Herald ^[11]
• Union-Bulletin ^[12]

No

State legislators

• Peter Abbarno, state senator from the 20th district (2021–present) (Republican) ^[13]
• Bob Hasegawa, state senator from the 11th district (2013–present) (Democratic) ^[14]
• Joe Schmick, state representative from the 9th district (2007–present) (Republican) ^[13]
• Mark Schoesler, state senator from the 9th district (2005–present) (Republican) ^[13]

Polling

Poll source	Date(s) administered	Sample size [a]	Margin of error	Yes	No	Undecided
Emerson College [15] [A]	October 20–21, 2025	600 (LV)	± 4.0%	47%	33%	21%

Note

1. Key:
   A – all adults
   RV – registered voters
   LV – likely voters
   V – unclear

Partisan clients

1. Poll sponsored by the Northwest Progressive Institute

References

1. Cornfield, Jerry (June 6, 2025). "Washington's long-term care program nears liftoff". Washington State Standard. Retrieved August 30, 2025.
2. Cornfield, Jerry. "Should WA Cares funds be invested in the stock market? Ferguson says yes". Washington State Standard. Retrieved August 30, 2025.
3. New, Elizabeth (May 1, 2025). "Washington state Legislature 2025: That's a wrap". Washington Policy Center. Retrieved August 30, 2025.
4. "Washington SJR 8201, Allow Investment of Long-Term Services and Supports Trust Fund in Stocks and Other Equities Amendment (2025)". Ballotpedia.
5. Cornfield, Jerry (September 5, 2025). "Debate on investing WA Cares funds in the stock market heats up". Washington State Standard. Retrieved September 7, 2025.
6. Leyden, Henry (September 24, 2025). "Washington voters have an opportunity to strengthen the WA Cares Fund by voting "Approved" on SJR 8201 this autumn". Northwest Progressive Institute. Retrieved September 28, 2025. NPI urges Washington State voters to vote "Approved" on SJR 8201 this autumn
7. "Editorial: Yes on SJR 8201 a prudent investment for WA Cares". Everett Herald. October 18, 2025. Retrieved October 26, 2025.
8. "In Our View: Constitutional amendment will benefit WA Cares". The Columbian. October 7, 2025. Retrieved October 7, 2025.
9. "Approve SJR 8201 to grow WA Cares Fund". The Seattle Times. September 17, 2025. Retrieved September 20, 2025.
10. "The Stranger's General Election 2025 Voting Guide". The Stranger. October 17, 2025. Retrieved October 19, 2025.
11. "Vote 'Yes' to strengthen WA Cares Fund for elder, long-term care". Tri-City Herald. October 5, 2025. Retrieved October 6, 2025.
12. "Editorial: Senate Joint Resolution 8201 can boost Washington Long-Term Care Fund". Union-Bulletin. October 9, 2025. Retrieved October 11, 2025.
13. "State Measures - Senate Joint Resolution No. 8201 Arguments For and Against". VoteWA. Retrieved August 30, 2025.
14. Cornfield, Jerry (May 2, 2025). "Decision on investing WA Cares tax dollars in stock market goes to ballot". Washington State Standard. Retrieved August 30, 2025.
15. Villeneuve, Andrew (October 23, 2025). "A plurality of Washington voters say they're voting "Approved" on SJR 8201, a proposed statewide constitutional amendment". Northwest Progressive Institute. Retrieved October 26, 2025.