Do you know where your tax dollars are going?

| July 27, 2015

Children’s Action Alliance Newsletter:

July 23, 2015

The legislative budget office reports good news about the state’s fiscal condition. Revenues for fiscal year 2015 that just ended June 30 were approximately $320 million higher than projected!  This means the state will not have to use any of the $460 million in the Rainy Day Fund and we start the new year with a balance of $266 million.

The JLBC staff report that some of boost in revenues may be one-time funds; they expect that about $200 million will be ongoing – bumping up revenues for this fiscal year.

When the legislature returns in January, our elected officials will be debating how to best allocate these unexpected funds: put new deposits into the Rainy Day Fund, pay off debt, or invest in state needs. Some will surely propose giving that money away with more permanent tax cuts.

Click HERE for information on what tax cuts could mean for Arizona’s future and Arizona’s economy. This updated version includes information about the fiscal year 2016 budget, facts about Arizona’s job growth and recovery from the recession, and the latest comparisons of Arizona’s public education funding to the rest of the nation.

If you’d like a hard copy of the publication or a presentation of all that’s in the publication, please contact Karen McLaughlin at kmclaughlin@azchildren.org or 602-266-0707 x207.

Click here for the JLBC update.

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Category: General

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