Last month, the Joint Legislative Budget Committee (JLBC) presented its fiscal year 2026 (FY2026) baseline and revenue forecast at their January Financial Advisory Committee (FAC) meeting. What is the JLBC baseline? The…
Arizona has a variety of tax credits available to taxpayers. In its wisdom, the legislature created the Joint Legislative Income Tax Credit Committee in 2002 to keep an eye on credits, including revenue and economic impact…
On January 13, 2025, a new Arizona legislature will be sworn in and begin forming the 2026 state budget. Today’s budget outlook is significantly different from what legislators faced last January. Then, the state faced…
Proposition 312 (Prop 312) produces an economic sanction on local communities and is a short-sighted approach to an issue that requires local solutions, not a one-size-fits-all statewide initiative. If passed, Prop 312…
Working late into the night on a Saturday, the state legislature passed legislation to resolve an almost $1.6 billion deficit for fiscal years 2024 and 2025. The state found itself in this dire predicament after it learned…
Since last October, fiscal analysts have been warning that the state’s revenues are not sufficient to support the budget that was passed a year ago. The latest Monthly Highlights issued by the Joint Legislative…
Governor Hobbs and the state legislature have until June 30 to pass a budget. The major problem they face is state revenues that are lower than expected when they passed the budget last year. They need to not only adopt a…
A new report released by the Institute on Taxation and Economic Policy (ITEP) highlights how recent tax policy changes have increased inequity and decreased fairness among taxpayers depending on income. In Who Pays? Seventh…
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