By Victoria Harker | Chamber Business News
A new report that analyzes the economic impact of Proposition 208 in Arizona shows that the measure would hurt all income levels, resulting in lost tax revenues for critical services like child protective services, public safety, and higher education.
If passed by Arizona voters on Nov. 3, the proposition, known as the “Invest in Ed” initiative, would put the state in the top 10 of the highest income tax states in the nation.
That would, at a minimum, cause a $2.4 billion reduction in local and state tax revenues over the next decade due to lost business attraction and expansion, jobs and wages, the report states.
