Governor Doug Ducey will introduce yet another austerity budget that is in deficit without calling it so on Monday, January 8.\u00a0 The state\u2019s revenue system is broken.\u00a0 A prime culprit has been the failure of the 2011 \u201cJobs Bill\u201d (HB2001) which put forward a series of corporate tax reductions amounting to more than half a billion dollars each year by FY2018.\u00a0 No evidence supports claims that the Jobs Bill helped spur the state\u2019s recovery<\/p>\n
State revenue growth in Arizona during the current expansion has lagged significantly behind neighboring states.<\/p>\n
Compared to FY2007 after adjusting for population growth, inflation, and continued use of accounting maneuvers, Arizona faces nearly a $5 billion deficit relative to state revenue at that time. Effectively, the state has about $3 for every $4 it had in FY2007 when adjusting for both inflation and population growth.<\/p>\n","protected":false},"excerpt":{"rendered":"