By James Nash | Bloomberg
Arizona, where state spending tripled since 1990 as the population grew 80 percent to 6.6 million, is facing the consequence of a slowdown coupled with tax-cutting fervor in the Republican-run legislature.
Five years after the end of a recession that cut school spending 15 percent and prompted a temporary sales-tax boost, the home of the Grand Canyon is projecting a shortfall of $520 million by June 30 and as much as $1 billion the following year.
Yet neither legislative leaders responsible for the $9.5 billion budget nor candidates vying to succeed 70-year-old Republican Governor Jan Brewer in next week’s election are pushing to reinstate the sales levy that ran out last year or to reverse a 30 percent cut in corporate income tax rates.
