Colorado mulls major schools funding change

Colorado voters are deciding on a major change to how public schools are funded. A ballot measure Tuesday would hike income taxes by about $1 billion a year in exchange for a raft of education upgrades.

The prospects for the measure were far from certain.

Republicans and some business groups oppose what would be the largest voter-approved tax hike in state history. Democrats and teachers’ groups tout the measure as necessary to repair years of funding gaps for preschool through high school education.

Amendment 66 would raise the state income tax from 4.63 percent to 5 percent for taxable income up to $75,000 a year. Income above $75,000 would be taxed at 5.9 percent.