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Arizona voters OK new tax on high earners to fund schools

Posted at 8:38 PM, Nov 05, 2020
and last updated 2020-11-05 22:38:39-05

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.