Teachers Unions Make a Large Donation to Pass Prop HH
As the November election approaches, the battle over Proposition HH and its effects on property taxes rages on. With ballots now in the hands of voters, the fundraising efforts have narrowed, with the major issue committee in favor of Prop HH still struggling to catch up to those against it.
However, in a last-minute twist, a big check from a New York-based "dark money" group has closed the gap and thrown a curveball into the equation. Education Reform Now Advocacy, tied to Democrats for Education Reform, has poured in a whopping $250,000, bringing their total contribution to the "yes" campaign up to $550,000 - the most any group has donated in support of Prop HH.
Education Reform Now Advocacy and DFER are both founded by New York hedge fund managers and have a clear agenda in pushing for charter schools and undermining teachers’ unions.
The No on HH committee has received a hefty $1 million from Advance Colorado Action. This, combined with a recent $100,000 donation from Defend Colorado, has put the anti-Prop HH campaign just $190 ahead of the pro-Prop HH campaign.
Advance Colorado and Advance Colorado Action have already spent $300,000 on TV ads and digital advertising in just the past week. And the Americans for Prosperity has added another $100,000 to their in-kind contributions.
Meanwhile, the Taxpayers for a Better Deal, backed by the Denver-based Independence Institute, has spent over $12,000 – almost entirely through in-kind contributions.
In total, the "yes" and "no" sides have raised a staggering $3.95 million, with most of that money going towards those opposing Prop HH.
Prop HH seeks to use Taxpayer's Bill of Rights surplus revenue to reduce property taxes, fund school districts, and support local governments.
Under this measure, taxpayers would receive a one-time only equalized TABOR refund next April. However, if Prop HH passes, TABOR refunds would be reduced over the next decade and potentially eliminated. This means that taxpayers on average will lose $5,119 in TABOR refunds over the next 10 years, according to the Common Sense Institute.
The No on HH committee is facing a campaign finance complaint for allegedly failing to disclose their donors in ads on Facebook.
READ MORE: