Republican legislators defended family tax rebates Monday as beneficial to Arizonans on the heels of new projections that Arizona is expecting a $400 million state budget shortfall.
The Finance Advisory Committee report released last week indicated the projected shortfall is due in part to a drop in individual income tax collections. In a news release, Arizona House Democrats pointed to “an irresponsible permanent $2 billion income tax cut primarily benefitting wealthier Arizonans.” Arizona’s 2.5% flat tax was approved by Republican lawmakers in 2021, and the following September, former Gov. Doug Ducey directed the Arizona Department of Revenue to enact the flat tax in the …
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