A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The Legislative new year officially begins in the afternoon with the governor’s annual State of the State address The goal is to wrap up the legislative session within 100 days, but lawmakers typically go until May or June, especially when there are difficult problems to negotiate like a budget shortfall.
The state had a budget surplus of $1.8 billion a year ago. But it now has a shortfall of about $400 million for the current fiscal year and another $450 million shortfall the year after.
A tax cut approved by legislators in 2021 and signed into law by Hobbs’ Republican predecessor, Gov. Doug Ducey, replaced the state’s graduated income tax with a flat tax that took full effect last year. Arizona subsequently saw a decrease of over $830 million in revenues from income taxes, marking a nearly 30% decline from July through November.
No sympathy from me. These AZ voters turned down a ballot measure for a really amicable deal to build a new NHL rink for the Coyotes and decided to put a dump there instead. The voters themselves prefered a dump to a place of commerce. Congrats you got your dump, and I get to make fun of yotes fans for their dumpster fuck of an arena situation.
But many economists maintain that states and cities that help pay for new stadiums and arenas rarely get their money’s worth. Teams tout new jobs created by the arenas but construction jobs are temporary, and ushers and concession workers work far less than 40 hours a week.
https://www.pbs.org/newshour/nation/public-money-used-build-sports-stadiums
Ah yes an article about a different stadiums in a different sport from 7 years ago clearly is relevant to a deal made in the future with this now longstanding issue in mind. How much money is the dump making them? AZ fucked up and just assumed they’d get the yotes tax revenue regardless, but with the current move eyeing making a deal on tribal land, well the deficits add up.
Like a less popular sport like the NHL is going to be really profiable. Getting rid of the flat tax and school vouchers would be more effective.
“Welp, time to cut more ‘woke’ from the schools.”
Well, y’know, it’s that damn big govt making all the problems. This is all their fault. Somehow.
Flat tax = let’s make the poor pay for services instead of the rich who can afford it.
Classic Republican shitshow that democrats get blamed for and are responsible for cleaning up
