PHOENIX (AP) — Arizona voters have approved a new tax on high-earning residents that could bring in nearly $1 billion of new revenue annually to the state’s schools.
The approval of Proposition 208 came after the state’s business community spent more than $18 million trying to defeat the measure backed by many educators and progressive groups.
The measure was an outgrowth of a 2018 teacher strike that gave teachers a 20% percent pay raise over three years but fell short of what strikers demanded.
The Invest in Education Act will impose an extra 3.5% tax on income above $250,000 for individuals and for couples making more than $500,000.
