Thursday, October 23rd, 2014

Brewer Must Act Today On Tax Cut Bills

Jan-BrewerArizona Governor Jan Brewer is set to act on the three remaining bills from the 2013 Arizona Legislature's session.

Brewer faces a deadline today to sign or veto the bills.  They put in place tax breaks or credits totaling more than $90 million a year by 2015.  They include the automatic adjustment of tax brackets for inflation that will cost about $11 million a year and an increased research tax credit worth $10 million.  

The biggest cuts lift a cap in the amount of depreciation small and medium-sized businesses can claim instantly on new equipment.  That provision is expected to save businesses nearly $71 million this year. 

The bills were among a large number of tax cut proposals introduced this year.  Only a handful made it to the governor's desk.

Scroll To Top