Tag: tax cuts

Katie Hobbs Breaks Arizona Veto Record for a Single Session

Neil Jones

The Arizona Senate Majority Caucus released a statement Tuesday, announcing that Governor Katie Hobbs had vetoed another 11 bills, bringing her total to 63 and surpassing the previous record for most legislation vetoed in a single session.

“Vetoing is a tool that weak leaders will use in an effort to control legislative priorities, and we’re witnessing this tactic front and center from Katie Hobbs,” said Senate President Pro Tempore T.J. Shope (R-Coolidge). “Instead of demonstrating diplomacy and bipartisanship, the Governor is showcasing her failure to work across the aisle. Instead of accomplishing the priorities of our citizens and strengthening our communities, she’s done little outside of hosting press gaggles and photo ops with activist groups and Democrats alike.”

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Arizona Senate Republicans Introduce Tax Cut Bills for Groceries and Rent Payments

Neil Jones

State Senate Republicans have introduced two bills that target Arizona’s grocery and rental taxes to give local families a financial break. Kim Quintero, the spokeswoman for the Senate Republican Caucus, told The Arizona Sun Times that it would be unwise for Governor Katie Hobbs (D) to veto bills like these should they pass the legislature.

“It would not be wise of the Governor to veto the food tax bill, as this will provide immediate inflation relief to those living paycheck to paycheck, and it’s something that resonates with a large portion of her voter base,” Quintero said via email.

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Kari Lake Slams Katie Hobbs for Not Supporting More Tax Cuts as Inflation Continues to Soar

Neil Jones

New data shows that inflation continues to rise for consumers across the country, and in response, Arizona’s gubernatorial Republican nominee Kari Lake slammed her Democrat opponent Katie Hobbs for not supporting more tax cuts in the state.

“Today’s skyrocketing inflation data is another tragic reminder of the damage Democrats like Katie Hobbs and Joe Biden have done to Arizona’s economy. Arizona families can’t keep up with the soaring costs. I have a plan to provide some immediate relief by eliminating taxes on groceries and rent, which Katie Hobbs obviously opposes because she’d rather tax you than help you. It’s unfathomable that Katie Hobbs wants Arizonans to pay tax on top of these already crushing prices, but not surprising coming from the party of Joe Biden,” Lake said in a statement emailed to the Arizona Sun Times.

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New Kari Lake Ad Promises to Cut Taxes for Arizonans

Neil Jones

Arizona’s Republican gubernatorial nominee Kari Lake told Arizonans that economic relief might be on the horizon in a new ad released Sunday detailing her plan to fight high costs if elected as the state’s next governor.

“Thanks to Joe Biden’s and Katie Hobbs’ liberal tax-and-spend agenda, Arizona has one of the highest rates of inflation in the country. Katie Hobbs and the Democrat Party won’t do anything to provide relief for Arizonans, but Kari Lake will,” said the Kari Lake Campaign in a statement.

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Connecticut Gov. Lamont Proposes $336 Million in Tax Cuts

The Center Square

Gov. Ned Lamont said he is proposing a package of legislative proposals that would provide for $336 million in tax relief for state residents.

The governor announced the first package of tax aid comes as the state has a projected $1.48 billion surplus in its operating budget. The surplus, Lamont said, enables the tax cuts to be built into the budget and will ensure the state’s Rainy Day Fund remains strong.

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Trump Ended His First Year With Big Tax Cut Win, Biden Finishes His With Crushing Manchin Loss

Arizona Sun Times Staff

Buffeted by a Russia scandal that proved false, Donald Trump ended the first year of his presidency on a high note with passage of historic tax cuts. In contrast four years later, Joe Biden’s first year in office is ending with a stunning rebuke from a senator in his own party.

On Sunday, Sen. Joe Manchin (D-W.Va.) gave a resounding “No” to Biden’s signature Build Back Better legislation, leaving an uncertain path for the Democrats’ ambitious agenda despite the fact they control the Senate, House and White House.

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Report Shows Arizona Has Recovered All Jobs Lost During COVID-19 Pandemic

Cooper Moran
Job fair by Arizona Office of Economic Opportunity

Arizona has recovered all jobs that were lost during the coronavirus pandemic, according to a report from the Arizona Office of Economic Opportunity (OEO).

The data shows that the state’s economy has gained 101 percent of jobs lost during the initial months of the economic shutdowns associated with the pandemic.

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Studies: Trump Tax Cuts Helped Lower Income Families, Build Back Better Helps Wealthier Americans

The Center Square
family of three eating pizza

Democrats have argued that the tax reforms implemented through the 2017 Tax Cuts and Jobs Act (TCJA) only benefited the rich, and that the Build Back Better Act (BBBA) will help middle-and working-class Americans the most.

But several nonpartisan groups found that the TCJA reduced the tax burden for the middle- and working-class by up to 87% and, they argue, the $2.4 trillion BBBA – before the U.S. Senate this week – would increase taxes on the middle- and working-class by up to 40%.

A new analysis published by the Heartland Institute found that the TCJA reduced the average effective income tax rates for taxpayers in every income tax bracket – but the lower- and middle-class saw the greatest benefits – with the lowest-income filers receiving the largest tax cuts.

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Lawsuit Filed Against Referendums That Attempt to Reverse Arizona’s Historic Tax Cuts

Rachel Alexander

The Arizona Free Enterprise Club filed a lawsuit recently against Invest in Arizona over the organization’s attempt to get three referendums on the Arizona ballot that would reverse Arizona’s recently passed tax cuts. The lawsuit contends that since the tax cuts “provide for, and directly relate to, the generation of revenues that are remitted to the general fund and appropriated to various agencies, departments and instrumentalities of the state government,” they cannot be the subject of a referendum and are unconstitutional.

AFEC President Scot Mussi, who is one of the plaintiffs, said, “All three bills directly provide for the support and maintenance of the state, were key aspects of the state’s budget, and therefore are not referable by Invest in Arizona.”

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Progressive Groups Seek to Reverse Historic Arizona Tax Cuts

Cooper Moran

A coalition of progressive groups filed a request with the Secretary of State’s office on Friday for a voter referendum that would block historic tax cuts that were passed by the state legislature and enacted by Governor Doug Ducey.

The groups will now have 90 days to collect a minimum of approximately 120,000 valid signatures from residents of the state — a move that would prevent the tax cuts from taking effect until all voters could decide on the measure in November 2022.

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Arizona Legislature Wraps up Session for the Year

Rachel Alexander

The Arizona Legislature wrapped up this year on Wednesday with a nearly record-long session, reaching 171 days. Lawmakers came to an agreement on most of the budget last Friday that contained historic tax cuts. Governor Doug Ducey signed that bill, HB 2900, also on Wednesday.

During the last few hours, the legislature approved the education budget bill, HB 2898, which included an expansion of the school voucher program. It reduces the length of time children must attend a public school before they are eligible for vouchers to use at a private school. Low-income children who live near poorly-rated schools will be eligible immediately, and others will only have to spend 45 days in the school, down from 100 days.

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Historic Income Tax Overhaul Reduces Burden by 13 Percent for Most Arizonans

Rachel Alexander

Arizona Governor Doug Ducey is expected to sign a budget bill the Arizona Legislature sent to him on Friday that includes a historic tax reform package. HB 2900 implements the lowest flat tax in the country, 2.5%. The average Arizona family will see a 13% income tax reduction, about $350 per year. According to the nonpartisan Tax Foundation, Arizona previously had one of the highest marginal income tax rates in the country. 

The budget bill also eliminates taxes on veterans’ retirement pay and prevents a 77% increase on small business taxes. It reduces property taxes by 10% on small businesses and job creators by 10%, capping the maximum tax rate on businesses at 4.5% and reducing commercial property taxes. According to a report by Ducey, 43% of Arizonans in the private sector work for small businesses. HB 2900 increases the homeowner’s rebate so the state covers half of homeowners’ primary property taxes.

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