Ballot initiative would raise taxes on wealthy, corporations
A group that got Medicaid expansion on the Idaho ballot last year says it has started another initiative to raise money for public schools by increasing taxes on corporations and the wealthy.
Reclaim Idaho on Wednesday announced the initiative proposal to raise taxes by 3% on individuals making more than $250,000 or married couples making more than $500,000.
The plan would also raise corporate tax rates to 8%, the same as from 1987 to 2000.
Reclaim Idaho says that will raise $170 million for K-12 public schools while reducing the need for school levies through property tax overrides.
More than 55,000 registered Idaho voters will have to sign a petition for the initiative to make the November 2020 ballot.
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