Post by Logan on Feb 7, 2016 3:03:52 GMT -6
State leaders blame lingering effects of the Great Recession for the state's sluggish tax revenues and flat budgets. But economists say the real culprit is the cumulative impact of two decades of Arizona governors and lawmakers chipping away at the state's bottom line.
Tax cuts over that period will cost the state's fiscal 2016 general fund $4 billion in revenue, according to an analysis by economists with Arizona State University's W.P. Carey School of Business.
The impact is expected to grow as already-passed corporate tax cuts continue to be phased in through 2019.
It leaves little room to reconcile Gov. Doug Ducey’s promise for more cuts this year with public demand for more school funding and Republican legislative leaders' push for a structurally balanced budget.
Read more: www.azcentral.com/story/news/arizona/politics/2016/02/06/tax-cuts-have-left-arizona-short-cash/79365542/
Tax cuts over that period will cost the state's fiscal 2016 general fund $4 billion in revenue, according to an analysis by economists with Arizona State University's W.P. Carey School of Business.
The impact is expected to grow as already-passed corporate tax cuts continue to be phased in through 2019.
It leaves little room to reconcile Gov. Doug Ducey’s promise for more cuts this year with public demand for more school funding and Republican legislative leaders' push for a structurally balanced budget.
Read more: www.azcentral.com/story/news/arizona/politics/2016/02/06/tax-cuts-have-left-arizona-short-cash/79365542/