Posted by: Donna
When the wealth is being distributed up, that is.
Thank you times infinity to Craig from Random Musings for slogging through the mechanics of legislation so I don’t have to.
The House accepted, on a mostly party line vote*, an amendment from Frank Antenori to the Special Session’s SB1002. The amendment was a conditional enactment clause that would hold the provisions of SB1002 in abeyance until regular session HB2250 is enacted. HB2250 is a series of corporate tax cuts including a property tax cut that would be backfilled by an increase to residential property tax rates and an income tax cut that has no guarantee that the corporate savings will be used to hire new employees.
Senate President Bob Burns has stated that he won’t take up the tax cut bill before the lege passes a balance budget and has at least started the sine die process** for the sixth special session in the Senate, but if the House doesn’t sine die the sixth special session by Tuesday, the bill approving the sales tax hike referral won’t become effective until after the deadline for a special election in May. In other words, they get their sh!t together by Tuesday or the special election is off.
I’m not sure if that is a bad thing – I won’t be voting for the sales tax increase if it is only going to be used to backfill the Rs corporate tax cuts.
The wingnuttier of the Republican legislators (okay, that’s pretty much all of them) are demanding the corporate tax cuts to give them cover to vote for the sales tax referendum. Which is scary because it’s either a sign that they really believe that more tax cuts to corporations will magically turn around the deplorable employment situation here, or it’s a sign that they don’t care if they do or not. Either way, Arizona’s taxation gets even more regressive than it already is.
Even the part of the plan that seems halfway decent – tax credits to companies that create jobs that pay more than the median average – suffers from the unfounded assumption that taxes collected on those wages will more than offset the amount spent on the credits. An analysis of the impact of the plan has yet to be done, but if history is our guide, I have a nagging suspicion the benefits of these incentives will be nebulous, at best.
Yep, being the 7th most regressively taxed state just wasn’t good enough.
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