February 17, 2016
Small business backs passage of Proposition 123
Strengthening education without raising a single tax is a win-win for Main Street
PHOENIX – Arizona’s largest and leading small-business association today endorsed passage of Proposition 123, an education-financing initiative on the May 17 special election ballot.
“Arizona’s entrepreneurs know first-hand the importance of a strong public education system, and we support Proposition 123 as our best opportunity to prepare the next generation for the jobs that will power Arizona’s economy in the 21st Century,” said Wendy Swager, owner and chief executive officer of Tucson-based Soreo In Home Support Services. Mrs. Swager also serves as Arizona leadership council chairwoman of the National Federation of Independent Business.
With 350,000 dues-paying members nationwide, including approximately 6,000 in Arizona, NFIB is the voice of small business.
“Proposition 123 will secure billions of new dollars flowing to our kids and teachers while also protecting our state’s balanced budget and rejecting the need to raise so much as one penny in new taxes,” said NFIB/Arizona State Director Farrell Quinlan.
Passage of Proposition 123 would provide $3.5 billion in additional K-12 classroom funding over the next 10 years without raising taxes, by allowing the state to better utilize the Permanent Land Endowment Trust Fund. The Trust currently has more than $5 billion in assets. It was specifically set aside at statehood by the U.S. Congress for the benefit of Arizona’s school children and will grow to approximately $6.5 billion even after the 10-year life of Proposition 123’s reallocation. The ballot measure was referred to voters because rules governing the Trust are part of the Arizona Constitution and therefore may only be changed by a vote of the people.
“NFIB and our small-business-owner membership strongly support passage of Proposition 123 not only because it sends a strong message about the value of education in Arizona but also because it makes solid business sense. Proposition 123 is a truly creative and surprisingly elegant solution to the looming $1.3 billion lawsuit that if the state lost would have necessitated a devastating tax increase,” Quinlan concluded.
Find out more about Proposition 123 at www.yesprop123.com.
