The Fountain Hills Chamber has joined our EVCCA partners in support of Proposition 123.
 
Proposition 123 injects $3.5 billion into K-12 education over the next decade by increasing the currently the distribution from the state land trust. It provides an additional $454 million for education in the next year alone. Proposition 123 makes this major investment in education without raising taxes. 
 
Recently, former U.S. Sen. Jon Kyl stated his case in support of Prop 123. I highly recommend you read the senator’s entire argument for Proposition 123, where he writes:
  • Prop. 123 does not mandate the sale of any part of the land being held in trust for K-12. That asset will continue to be managed in the best manner possible to provide for this generation of students as well as future generations.
  • Prop. 123 does put appropriate pressure on the state to ensure it performs its role in producing a quality revenue stream to support the intended beneficiaries of the trust, including our K-12 system.
  • Here is my question. From what do we get greater value: sitting on the assets in the trust (earning a bit), or investing $3.5 billion to better educate millions of Arizona kids today?

 

If Proposition 123 does not pass on Tuesday, it’s back to court. Schools that have based budgets on its passage will have to make significant changes to their spreadsheets. Teachers won’t get raises.