Some members of the Arizona business community are criticizing a proposed ballot initiative that would tax high-income residents to increase teacher pay and school funding. KNAU’s Justin Regan reports.
Officials with the Arizona Chamber of Commerce and Industry say while teachers deserve a raise, the Invest in Education Act would create a drag on the economy. The initiative would increase income tax by about 3.5% for those who make more than $250,000 a year, and about 4.5% for those who make $500,000.
Most of the money would go toward teacher salaries, and it would also fund full-day kindergarten, education programs and some school operating costs. Representatives with the group Invest in Education, who introduced the proposal, say they’re tired of waiting for state lawmakers to better fund schools.
Supporters have until July 5th to collect the 150,000 signatures needed for it to appear on the November ballot.