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Arizona incomes grew 3 percent in 2015, slightly off national pace
Personal income grew 3 percent last year in Arizona, mirroring a national increase of 3.7 percent that year as the nation continued to rebound from the recession, new government data shows.
Economists say business tax cuts costing state $350 million a year
Corporate tax cuts enacted during the Great Recession amid promises they would stimulate business growth are actually going to leave the state with $350 million less by the time they’re fully implemented.
Clear economic sailing in 2016, but experts urge caution
As Arizona fully emerges from what has been a long and dark economic winter, economists warn of potential headwinds and the possibility of another recession this decade.
State pays last $44 million on loan covering recession-era unemployment benefits
The state has finally paid off the last of the money it had to borrow to pay unemployment benefits to workers during the recession.
Report: Universities faced nation’s deepest cuts even before latest reductions
Arizona sits atop the list of states that have made the deepest cuts to higher education and have enacted the largest tuition increases in the nation since the start of the recession.
Bumpy ride: Turmoil in housing industry translates into a tepid state economy
Despite efforts by policymakers to diversify the state’s economy, Arizona still rides on the boom and bust of the housing industry. And when this sector is inactive, its silence – and all the troubles that entails – reverberate throughout the state.
Arizona lost private sector jobs in May
Arizona lost 800 private sector jobs last month as the state continues to find its financial footing to finally recover from the recession.
Cuts to food stamp benefits hit more than 1 million Arizonans Friday
More than 1.1 million Arizonans who depend on the Supplemental Nutrition Assistance Program – better known as food stamps – will see their benefits reduced Friday in a long-planned national cut.
Stanton: Cities can’t wait for federal help for transportation projects
Cities can’t wait for new federal funding and updated policies needed to advance transportation projects, Mayor Greg Stanton told officials from around the country Monday.
Lew warns of debt-limit catastrophe; Schweikert says that’s not so
Treasury Secretary Jacob Lew warned Thursday of a “potentially catastrophic” hit to the economy if the nation reaches the debt limit next week and defaults on its obligations.
Debt Dilemma
2010 decision to mortgage state’s assets threatens cash reserves
Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.
AZ lawmakers face uphill climb to reform income tax system
Arizona lawmakers, business leaders and economists face a daunting task as they try to make any changes to the state’s income tax rates and tax system.
