By Catherine Reagor | The Republic
Phoenix won’t need to raise taxes to balance its budget, at least for now.
The city’s manager and budget planners told the Phoenix City Council Tuesday that they were able to cut an anticipated shortfall by $56 million through a combination of cost cuts and increased revenue from existing taxes.
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That recommendation came after a December warning from Phoenix City Manager Ed Zuercher that the city would have to find a “dedicated source of funds” or “reallocate money for services” to offset rising pension costs.
Early last year, a $43-$64 million budget shortfall had been projected for Phoenix’s budget.
