Arizona Proposition 208: Education Funding Initiative
Arizona Proposition 208, also known as the Invest in Education Act, is an initiative seeking to tax incomes over a certain threshold for the purposes of education funding.
The law would place a 3.5% tax surcharge on annual income exceeding $250,000 when filed by single persons or married couples filing separately. For joint filings and heads of households, the tax surcharge would apply when income exceeds $500,000. This tax revenue would go toward public education.
The Invest in Education Act provides additional funding for public education by establishing a 3.5% surcharge on taxable income above $250,000 annually for single persons or married persons filing separately, and on taxable income above $500,000 annually for married persons filing jointly or head of household filers; dedicates additional revenue to (a) hire and increase salaries for teachers, classroom support personnel and student support services personnel, (b) mentoring and retention programs for new classroom teachers, (c) career training and post-secondary preparation programs, (d) Arizona Teachers Academy; amends the Arizona Teachers Academy statute; requires annual accounting of additional revenue.
Source: Invest in Education Act campaign
What You'll See On The Ballot
A "YES" vote would impose a 3.5% income tax surcharge on taxable income exceeding $250,000 for single persons or spouses filing separately, and on income exceeding $500,000 for heads of households or joint filings. Tax revenue from this surcharge would go toward the purposes of providing funds for public education; establishing a new fund to focus the revenue on hiring and increasing salaries for teachers and non-administrative support employees; career training and higher education pathway programs for high school students and the Arizona Teachers Academy; and increasing the dollar amount of scholarships available through the Arizona Teachers Academy.
A "NO" vote would retain the current law on income tax, which imposes a 4.50% tax on income over $159,000 for single filers, and on income over $318,000 for joint filers.
Source: Arizona Secretary of State's Office