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

Sep 17, 2020, 4:35 AM | Updated: 7:15 am
(Facebook Photo/Invest in Education)...
(Facebook Photo/Invest in Education)
(Facebook Photo/Invest in Education)

PHOENIX – 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.

Rounds explained those small changes in economic growth and quality build-up during a 10-year period could result in 124,000 lost jobs among other things. He added that Prop 208 is simply the wrong initiative at the wrong time due to the economic downturn.

But supporters for the initiative say that’s not the case.

“Prop. 208 will be good for our economy. It will bring more business to our state, and it’ll greatly improve our workforce,” David Lujan, Director of the Arizona Center for Economic Progress, told KTAR News 92.3 FM on Wednesday.

Lujan added, if passed, Prop. 208 would only impact Arizona’s top 1%.

“Ninety-nine percent of Arizonans will not pay a single penny more,” Lujan said.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

( Screenshot)...
Kevin Stone

Here’s how to make sense of changes to Arizona’s COVID-19 dashboard

The Arizona Department of Health Services rolled out a variety of changes to how it presents data on its COVID-19 dashboard this week, some that could be confusing without further explanation.
16 hours ago
(AP Photo/Ross D. Franklin)...
Associated Press

Judge again rules Arizona Senate’s election review records to be made public

A judge has rejected the Republican-controlled Arizona Senate’s contention that it can withhold a raft of communications between its leaders and private contractors they hired to conduct an unprecedented review of the 2020 election results in the state’s most populous county.
16 hours ago
(Facebook Photo/The University of Arizona)...
Kevin Stone

ASU, UArizona, NAU announce COVID-19 vaccine mandates for employees

Arizona’s three public universities announced Friday they will be requiring most employees to be vaccinated against COVID-19 by Dec. 8.
16 hours ago
(Screenshot/City of Tempe YouTube)...

Explosion, fatal house fire in Tempe ruled ‘not accidental’

Authorities in Tempe said Friday an explosive house fire where two women were found dead this week was not accidental but stopped short of supplying any other conclusions.
16 hours ago
A Sri Lankan school student receives a COVID-19 vaccine in Colombo, Sri Lanka, Friday, Oct. 15, 202...

Arizona reports 2,399 new COVID-19 cases, 38 more deaths Friday

Arizona health officials on Friday reported 2,399 new COVID-19 cases and 38 additional deaths from the disease.
16 hours ago
(Facebook Photo/Mohave County Sheriff's Office)...
Associated Press

Arizona authorities say 2 drown on Colorado River near Lake Havasu City

Mohave County authorities say two people drowned Thursday on the Colorado River north of Lake Havasu City.
16 hours ago

Sponsored Articles

PNC Bank

3 cool tips to turn everyday moments into learning experiences for your child

Early brain development has a crucial impact on a child’s ability to learn and succeed in school and life. Research has shown that 90% of a child’s brain is developed by age five.
Sweet James

Best fall road trips to take on a motorcycle

Autumn in Arizona brings the beauty of color-changing leaves and a relief from summer heat. It’s one of the most pleasant times to explore the outdoors, especially on a motorcycle.

More stroke patients eligible for acute treatment, thanks to research

Historically, patients underwent acute stroke treatments according to strict time guidelines. But thanks to recent advancements in stroke research, more patients are becoming candidates for clot-busting drugs and endovascular therapy at specialized centers like Barrow Neurological Institute.
Report: Prop 208 could hurt economy in long run; supporters disagree