Treasurer DeWit speaks out against Prop 123

PHOENIX (KSAZ) - With a group of mom's and kids behind him, Arizona State Treasurer Jeff DeWit voiced his opposition to Prop 123, he says the state has more money than it has ever seen, and can afford an increase spending on education without passing Prop 123.

Prop 123 would provide about $300 extra per student for 10 years and would take about $2.2 billion from the State Land Trust Fund worth about $5 billion.

DeWit says that the state's funds will add to a rainy-day fund which is estimated at more than $600 million.

FOX 10's Nicole Garcia spoke with DeWit and has this report.