2023 is off to a great start! After a year since its launch, we got to see our bill, The Fair Shot Act, pass the senate on the first of February. This is exciting news as this act will bring Washington’s exemption laws to reflect the current cost of living in our state. Now, why are exemption laws important? Well, exemption laws are made to protect people from going into financial ruin during times of hardship. They focus on protecting money, vehicles, and other necessities from creditors.
It’s no question, as our speaker Christina Henry testifies “that the pandemic has shown just how weak these current laws are in protecting people’s property.”
And we’ve seen this with many small businesses having to close after years of hard work and thousands invested, we can probably list three of these from the tops of our heads. Not only that but a lot of people in the hospitality business ended up losing their jobs. There was no solid plan to protect these people from near poverty.
If the Fair Shot Act had been in place, there wouldn’t have been as much devastation. It’s also no question that the cost of living in our state has increased dramatically over the last couple of years. Seattle’s housing expenses are 118% higher than the national average, we have a “C” grade in protecting people’s property from NCLC; a change in Washington’s current property exemption laws was due.
Now moving forward, The Fair Shot Act will focus on three main key areas; personal property exemptions, tools of the trade, and personal injury claims. You’ve probably seen our page by now and have heard the heart-wrenching stories of those who’ve testified in favor of the Fair Shot Act, each affected by the lack of protection in these categories. If you need to, you can watch them on our page here.
Although we can’t go back and change what has happened, we will continue to speak for those who have struggled under our state’s exemption and now forward with ease of mind that we are on track to have more protection than ever before.