Colo. voters reject tax hikes for schools

11-03-2011

CBS

Colorado voters on Tuesday overwhelmingly rejected the nation's only statewide tax increase on ballots this year — a proposal to raise income and sales taxes for five years to revive schools decimated by years of budget cuts. The measure would have sent an estimated $2.9 billion to K-12 schools and public colleges and universities, and the vote indicates Americans may not be willing to consider higher taxes in this down economy, despite deep budget cuts to high-priority services like schools. The congressional supercommittee debating how to lower the nation's debt is currently at a bit of an impasse, and one of the most contentious issues is tax hikes. Democrats insist raising revenues is necessary to tackle the problem, while Republicans insist all that is needed is massive spending cuts. (more...)

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Colo. voters reject tax hikes for schools

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