Posts Tagged ‘Breaking News’

Breaking news! You’ve heard it here first - Senator Al Melvin, vice chair of AZ Senate Appropriations broke the news on this mornings WakeUpTucson show that a potential deal has been struck with  Govenor Brewer on the budget impass. The details are as follows:

The voters will get an up or down vote on all of the following. The items will not be individually voted on but the voters must up or down the entire package:

The package will be called the Arizona Budget Recovery Plan

- A sales tax increase (a sticking point for the Gov.) which would be 1 cent for year one, .3/4 of a cent year two and 1/2 of a cent year three. The Governor wanted 1 cent for all three years.

- Suspend the Prop 105 voter approved mandates to increased spending on education and many other state programs.

- Permanent repeal of the $250 million commercial property tax assessment.

- 2012 reduction of $200 million in personal income tax

- 2012 reduction of $200 million in corporate income tax.

Arizona’s corporate tax burden ranking nationally will move from 23rd to 7th.  Maybe that will bring in some new businesses and revenue…..from California!