Impact of Tax Cuts Over the YearsOctober 10, 2012
With one exception (2003), the Arizona legislature has passed some type of tax cut every year since 1990.In recent years have only served to exacerbate the budget shortfalls of the past and are projected to be a significant factor in future budget shortfall projections. The only relief has come from voters approving a temporary sales tax in 2010. That tax is set to expire on July 1st of 2013, however. As this chart shows we expect this drastic reduction in state revenue to contribute to some of our biggest budget shortfalls ever.