SCHOOL FINANCE TREND. Red State. Millionaires Tax.

State: Arizona

The school funding mechanism:  The Invest in Education Act, initiative and referendum on the Novmeber ballot

The revenue source would be increases to Arizona’s income tax by:

• raising the rate from 4.5%to 8%for individuals making at least $250,000 and for families earning at least $500,000
• raising to 9% the tax rate for individuals making at least $500,000 and families making at least $1 million

The public education funding recipient: teacher pay raises & restoring full day kindergarten

12news | Education activists say Arizona is ripe for Invest in Education Act

Governing | The Week in Public Finance: The Red State That’s Considering a ‘Millionaire’s Tax’