Report: Prop 208 could hurt economy in long run; supporters disagree

Facebook Photo/Invest in Education

By Gabriel Gamino | KTAR

A new report says passing Proposition 208, commonly known as the Invest in Ed initiative, could hurt Arizona’s economy in the long run.

Jim Rounds, Goldwater Senior Fellow and co-author of the report, told KTAR News 92.3 FM Tuesday, that if Prop 208 becomes law, some consequences could include “a reduction in business recruitment, a very slight reduction in job growth rate and a slight reduction in the wages of the new jobs coming in.”

Prop. 208 made it to the November ballot after surviving court challenges earlier this year.

It aims to place a 3.5% tax surcharge on those with an annual incoming exceeding $250,000 (single filing) or $500,000 (joint filing), according to the ballot approved by the Arizona Secretary of State.

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