Quantcast
Home / legislature / Senate committee backs business tax cuts

Senate committee backs business tax cuts

An Arizona Senate committee split along party lines as it endorsed a Republican package of business tax cuts and tax breaks for creating new jobs.

With Democrats opposed, the Finance Committee’s 5-2 vote Monday sends the House-passed bill to the full Senate after discussion in party caucuses and a legal review.

The bill includes reductions in property, business equipment and corporate income taxes as well as new and extended tax credits and other tax breaks keyed to creating new jobs.

Supporters say the bill would diversify the economy and provide needed high-paying jobs by attracting business expansions and relocations. Critics say the bill is corporate welfare that would worsen Arizona’s budget troubles while shifting tax burdens to homeowners.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

Private Prison

Arizona prisons up number of sanitary napkins for inmates

The Arizona Department of Corrections on Tuesday said it would immediately triple the number of free sanitary napkins it automatically provides each month to female inmates as it works to head off a Democratic proposal in the Legislature to provide unlimited free tampons, pads and other feminine hygiene products.