In May, Arizona voters will have the opportunity to add significant funding to K-12 education, end a contentious education funding lawsuit, and do so without increasing taxes on Arizona citizens and businesses.
Proposition 123 provides Arizona’s schools $3.5 billion to help restore funds to our state’s K-12 education system. Currently, Arizona is not competitive with other states when comparing the amount of state funds spent on primary education. If passed, Prop 123 will capture funds generated from the Arizona State Land Trust, which was originally established to support education. The proposition will increase the portion going to education from 2.5% to 6.9%, without raising our taxes.
The students of today are the workforce of tomorrow. Having a well-educated workforce is critical to Arizona’s ability to compete for new business and retain existing business. Increasing education funding will help Arizona provide much-needed resources to our teachers and schools. As the leading voice for sound economic development policies and workforce development, AAED strongly urges you to vote “yes” on Proposition 123.