Opinion: The adopted budget undoes much of the economic threat posed by the unwise passage of Proposition 208. It also sets the stage for extraordinary economic growth.
By Eric Knott | Arizona Republic
When he first ran for governor in 2014, Doug Ducey pledged to lower income tax rates as close to zero as possible.
He’d made modest progress on that claim – until now. But with the recent passage of the flat tax, we can now see real progress on that score, and we also have a fuller understanding of the broad view of Ducey’s approach to economics.
Ducey himself is an entrepreneur, having built Cold Stone Creamery into a national brand. He believes in low tax rates, light regulation, copious trade, and freedom for individuals to pursue their careers. His heart has always been with small business.
For much of his administration the state was broke. His first year he had to cut $1.5 billion in spending just to keep the state’s books balanced.
The state also had neglected key spending – such as education – for years. Ducey has practically shoveled money into the state’s K-12 system for his first six years, though you would never know it from the chronic wailing of the education lobby. The total over six years exceeds $8 billion in new money dedicated to education.
