Anacortes guest writer: Region’s high cost of living a vexing problem for young adults

As a 21-year-old and recent college graduate, I’ve already found myself at a financial crossroads. Between the high cost of rent and low wages, how the hell do people make ends meet? Last year, I graduated from the University of Washington with a bachelor’s in electrical engineering, a degree promised to be “in a growing field” and “desirable,” and yet, like most of my peers, I’m back home with my parents working for minimum wage. 

And where else could I be? In my hometown of Anacortes, cost of living is no joke! It doesn’t matter how financially literate you are when the math simply doesn’t add up. And believe me, I’ve done my homework on this. The money in my emergency fund (something very rare to even have among people my age) comes from the money I don’t currently have to spend on rent.

I’m doing everything under the sun to set myself up for a sound financial future, and the only thing making it possible is the bed that my parents still promise will always be mine — a form of social support that many of my peers don’t have. More than half of young adults 18–24 in Washington state don’t have sufficient income to make ends meet, the highest rate out of any other age group. 

In Washington state, our tax code doesn’t help. We have an “upside down” tax code, meaning that people working for minimum wage, like me, pay more in taxes than the wealthiest few in our state. 

I’m proud to pay taxes in Washington. Taxes pay for our ferries and public transit, they help fund the public education I received at the UW, and they pay for many more public services we all rely on.

However, it doesn’t make sense that people with hundreds of millions of dollars stored away — more money than they will ever need — are paying just 4% in taxes, while the rest of us pay 14%. I’m proud that my neighbors in Whatcom and Skagit County voted to uphold our Capital Gains Tax last year, and I’m hopeful that our state lawmakers will continue to listen to the voters and make wealthy people and corporations pay what they owe, rather than cutting services we all rely on this legislative session. 

One program that actually does make our tax code fairer is our state tax credit for low- and moderate-income working people and families, the Working Families Tax Credit. Last year, $130 million went out to people across our state. This year could have been the first time I qualified for the cashback from the credit, which is up to $1,290 for families, and up to $315 for people without kids. 

Unfortunately, the Working Families Tax Credit has an arbitrary age restriction for people without kids, meaning only people 25–65 years old can get this yearly boost. How does this make any sense? That $300 would be really helpful right now, not in a few years when I turn 25. When I ask my friends what they’d do with an extra $300, I always get a thorough answer, and that tells you enough. 

Luckily, a bill has been brought forth in the Legislature to fix this. House Bill 1214/Senate Bill 5768 will expand the Working Families Tax Credit to 100,000 more young adults and seniors living on low incomes. The simplest way to help people who are struggling is by putting an extra chunk of money in their pocket, and this bill makes sure that everyone can receive that help, no matter their age. 

If you’re a worker in Washington state, apply for your tax credit at workingfamiliescredit.wa.gov. Once you’ve made sure you’re receiving what you’re owed, please take a moment to ask for support from your legislators regarding House Bill 1214/Senate Bill 5768. Tell them your story, or my story, or just how much you think it sucks that young people and seniors aren’t covered by the program. Together, with a bit of effort, we can make our state’s tax system just a little better.

Charlie Reyerson grew up in the Skagit Valley and lives in Anacortes. He is a recent graduate of the University of Washington.