Chamber Chatter:Ballot Proposition Recommendations | Business – Inside Tucson Business

By Amber Smith | President and CEO of Tucson Metro Chamber

 

Championing business issues is the core mission of the Tucson Metro Chamber. We have a professional, experienced government affairs team that actively works with our Public Policy Council. That Council comprises individuals reflecting different political parties, industries and business sizes. The one tie that binds the group is diversity in thought founded on the basis of supporting and advocating for pro-business issues. As the Chamber does every year, the Council recommends positions on different initiatives as appropriate. The Council makes their recommendation to the Board who ultimately takes a position. 

 

Prop 208 – Invest in Ed

 

Education is a top priority for the Tucson Metro Chamber and our member businesses – it must be. Today’s students are tomorrow’s workforce. However, Prop 208 is a misguided and inadequate attempt to fund education in Arizona. As a result, the Tucson Metro Chamber encourages its members to vote “NO” on Proposition 208. 

This initiative would create a new 3.5% income tax in addition to the existing 4.5% income tax – a staggering 78% increase – on incomes above $250,000 (single filing) or $500,000 (joint filing). This would place Arizona’s top income tax bracket within the top 10 highest taxed individuals in the country. This flies in the face of many small businesses that were formed using the individual income tax option available to them. The proposed tax increase will hurt local, small business owners who file as individuals as the top rate, plus the surcharge, is much higher than the top corporate income tax rate. 

Regionally, our current top tax bracket is highly competitive. In looking at states that we directly compete with for jobs, Utah is 5.0%, Colorado is 4.6%, New Mexico 4.9%. Texas and

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