WASHINGTON — Washington voters will decide whether to amend their constitution to allow funds from a long-term care insurance program to be invested in the stock market. It is the only statewide contest in a Nov. 4 election that will mostly feature mayoral and other municipal races across the state.

The proposed constitutional amendment, known as Senate Joint Resolution 8201, will shape the future of the WA Cares Fund, which the Legislature created in 2019 to help participants defray the costs of certain long-term care services. Washington taxpayers fund the program though a 0.58 percent payroll tax, which began in July 2023. As of June 30, the fund had a balance of $2.5 billion.

Supporters of the proposal say that harnessing the growth potential from stock investments would secure the f

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