Arizona Bill Would Require a State Income Tax Cut After Budget Surplus Years

Arizona taxpayers could soon get half of the state’s annual surplus of funds sent back to them as an income tax cut the following year.

The state Senate passed SB 1577 Wednesday afternoon. Sponsored by Chandler Republican Sen. J.D. Mesnard, the bill would require the Joint Legislative Budget Committee to assess state revenue numbers. If the committee certifies an ongoing surplus after accounting for population increases and inflation, the Department of Revenue must cut the individual income tax rate to lower revenue by 50% of that surplus.

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Arizona Gubernatorial Candidate Karrin Taylor Robson Unveils Economic Relief Plan amid Surging Inflation

Arizona Republican Gubernatorial Candidate Karrin Taylor Robson recently unveiled her economic relief plan, which she would enact if elected as Arizona’s next governor.

“As we’re seeing today, Joe Biden’s inflation is a disaster for Arizona families. I’ve put together an economic plan which focuses on working families – and how we can best set them up for success,” tweeted Robson.

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