Education tax hikes defeated in Colorado

From The Denver Post: Colorado voters have rejected an attempt to raise state income and sales taxes to fund education. The tax hikes would have provided an estimated $2.9 billion over five years. Proposition 103 sought to raise the state's income-tax rate of 4.63 percent for households and businesses — for five years — to 5 percent. The proposal also would have — for five years — raised the state's 2.9 percent sales tax to 3 percent.