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GOP state senator to propose $300M in tax cuts
A Republican state senator, frustrated in his attempts to cut income taxes last year, plans to unveil a tax act that would cost the state nearly $300 million over the next three fiscal years.
New proposed tax cuts abound as need for K-12 funds persists
Gov. Doug Ducey won't promise to veto new tax cuts even as he says the state is putting as much money as it can into public education.
Nominal, politically driven tax breaks on the way
Arizonans are in line for an income tax cut when they file their returns next April. But don't go planning that trip to Europe -- or even Los Angeles -- just yet.
The cost of cuts: Arizona tax carve-outs last year hit $13.7B
In fiscal year 2016, state law allowed $13.7 billion in taxes to go uncollected through a litany of exemptions, deductions, allowances, exclusions or credits. And that number is likely to grow by another $1-to-2 billion once individual income tax deductions are tallied.
Properly analyzing tax policy – where to start the debate
The next few weeks will include much debate about President Trump’s economic plans with a primary focus on tax cuts. The typical question will be: “So, is this good?” The typical answer by policymakers and economists will be either “yes” or “no.” That’s it. Interview over. This doesn’t come close to the bare minimum discussion that is required. Here is my offering of where to sta[...]
It’s time for tax reform – here are 6 principles for success
Between health care reform, the border wall, and growing international unrest, Washington has a lot on its plate in the weeks to come. But we must make a point of prioritizing tax reform. Thirty years have passed since the last serious reforms, and our economy has been hampered by our outdated system. We haven’t achieved growth of 3 percent or higher since 2005.
It’s time for tax reform, here are six principles for success
Between health care reform, the border wall, and growing international unrest, Washington has a lot on its plate in the weeks to come. But we must make a point of prioritizing tax reform. Thirty years have passed since the last serious reforms, and our economy has been hampered by our outdated system.
Schools, prisons, welfare seeking bigger slice of the pie
As the mad scramble to craft the state’s spending plan begins, policymakers are quickly realizing that they have precious little money – an estimated $24 million – to spend, and not nearly enough even for their highest priorities.
Insurance premium tax revenues rose in September as corporate tax collections declined
Corporate income tax collections tumbled anew in September, as companies appear to have now caught on to the tax cuts enacted by lawmakers over the years.
Ducey’s income tax cutting goals may be difficult to achieve
Economic circumstances may prove to be quite the obstacle for Gov. Doug Ducey’s goal of making major cuts to Arizona’s income tax rates.
New budget would spend hundreds of millions from state surplus
The budget proposed by GOP leadership in the House and Senate dips into a massive budget surplus to make hundreds of millions of dollars in one-time expenses and millions in tax cuts, but makes few commitments to ongoing spending.
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.
