Voters may get a chance to have a direct say in how education is funded in Arizona. Education supporters have said that they intend to put an initiative on the November ballot to fund education through taxes on high-income Arizonans.
The Invest in Education Act is a ballot proposal that would raise the personal income tax to 8 percent for individuals making more than $250,000 and 9 percent for those making more than $500,000, according to Arizona Capitol Times.
These two new tax brackets would be nearly double the current highest bracket of 4.54 percent on all taxable income above $152,435.
Campaign consultants estimate that the initiative would generate $690 million per year in new revenue. The ballot measure would direct 60 percent to teacher salaries and the remaining 40 percent for operations.
Supporters of the initiative will have to collect at least 150,642 signatures by July 5 in order for the Invest in Education Act to appear on the ballot this November.
Education funding remains at decade lows in Arizona. Currently per pupil funding is just $4,760.
In nominal terms, per student funding is nearly $200 below where it was before the Great Recession. However, that amount expands to $1,000 less per student today when accounting for inflation.