The past year gave Arizona legislators the best Christmas gift they could hope for — a much improved economy and stronger revenue collections.Read More »
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Lawmakers and the governor plan to set aside $450 million to offset anticipated deficits in the state budget in two years.
That’s money that won’t be available for critical needs now, but depositing it in the state’s “rainy day” fund reaffirms a fiscally conservative outlook that has dominated the Capitol following the fiscal crisis that led to several years of incessant budget slashing.
Gov. Jan Brewer today laid out her spending plan, but before she can hammer out a deal with lawmakers, the two sides will have to reconcile their revenue projections for the next few years.
Right now, their only clear agreement is that, barring another economic downturn and events beyond the state’s control, revenues will climb steadily, albeit slowly.