Understanding Amendment 73: Funding Public Education

 

Sarah Ferguson

Oct 11, 2018

 

COLORADO SPRINGS, Colo. – Election day is less than a month away now and we want to start breaking down some of the amendments you’ll be voting on this November.

Amendment 73 aims to increase funding for K-12 Public Education by establishing tax brackets, or raising taxes for certain people who make more than $150,000 per year. It would also raise the corporate tax rate on businesses from 4.63% to 6%.

Those in support of Amendment 73 say it’s time more money is pumped into schools.

“This measure helps our whole state, there are districts that have been able to mitigate the cuts by going to their voters and getting mill levy overrides or bonds passed, but there are many, many districts in this state, largely rural districts who have never successfully passed an override,” said Jan Tanner, part of the Parent-Teacher Association of El Paso County.

If passed this measure is projected to raise $726-million for fiscal year 2018-2019 and another $1.6-billion for fiscal year 2019-2020.

The measure would also create the Quality Public Education Fund, where money would be dedicated to several things like; increasing statewide funding for all students, plus increasing spending for Special Education, Preschool, English language learning and gifted programs, just to name a few.

Those who oppose the measure say it doesn’t address more pay for teachers or funding in the classroom.

“We’d like to see school districts who will say, look this is our priority, we want teachers to have more money. We can’t have great teachers and have them be so poorly paid that they can’t pay off their student loans and they are spending their own money for the stuff that they need in the classroom,” said Sara Blackhurst, President of Action 22.

Those in Colorado making $150,000 or less would not be impacted, but those making more would see between a 5 and 8.25% hike in their income taxes.

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