YouTube
By Julia Shumway | Arizona Capitol Times
House and Senate leaders and Gov. Doug Ducey have agreed on a roughly $12.8 billion spending plan, including the state’s largest tax cut in recent memory – but the budget lacks the Republican votes it needs to pass in its current form.
The budget proposes to cut nearly $3 billion in taxes over the next three years, mostly through collapsing income tax brackets to a single 2.5% rate in 2023. It would cut taxes for all Arizonans, though higher-income taxpayers would see significantly bigger benefits.
“I like the tax cut and I like that it’s balanced,” said House Speaker pro tem Travis Grantham. “Those are my most important asks.”
While legislative leaders and the governor have reached an agreement, rank-and-file Republicans are still viewing the budget plan with skepticism.
“Do I think I will be on it in the end? Absolutely,” said Rep. David Cook, R-Globe.
But for now, Cook said, he needs answers to a number of questions, including whether the state is spending enough to repair or demolish decrepit state buildings before he can accept the huge cuts to revenue included in the tax plan.
