Here and Now - Arizona's Fiscal Nightmare
You've heard the projections, and they aren't pretty. A $1.4 billion dollar deficit to solve before the fiscal year ends June 30th. And an estimated $3.2 billion dollar deficit starting the next day.
That means some sort of spending cuts, revenue increases, borrowing, or acts of Congress. Perhaps all of the above.
We know the situation is dire. And nobody likes cutting services to the most needy, or raising taxes, or adding more debt to pay off someday.
We'd like to know what idea you have to help solve the state's fiscal woes.
We've invited 3 people who are some of the most knowledgeable around to shed light on the matter at hand. Alan Maguire is a local economist familiar with Arizona's revenue structure, spending, and fiscal policy. Eileen Klein was Governor Brewer's Budget director before becoming chief of staff. Dana Naimark follows state policy as President and CEO of the non-profit Children's Action Alliance. Naimark previously worked as a legislative budget analyst and oversaw “Fiscal 2000,” a legislative effort that examined Arizona’s tax and budget policies in 1989.
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Tackling the Impossibe: Taxes and Tax Reform in AZ
Shhhhhhh! Don't read this too loudly. Taxes. There you said it. That dirty four letter word every politician is scared to utter. Unless of course it's used with a variation of the word 'cut' such as 'tax cut' or 'cut taxes.' You'll hear that every election year. And in some areas, experts will tell you 'tax cut's are needed.
You won't hear that much this year. With governments at all levels facing budget cuts, tax cuts are not too popular. Tax hikes, while politically dangerous, are seen as the only way out for some governments such as the state of California, which temporarily raised the sales tax 1% and slightly bumped income and vehicle license taxes.
What should Arizona do to get out of the economic nightmare it finds itself in? Governor Brewer has proposed a plan that would cut spending, impose some form of temporary tax to raise a billion dollars a year, and ask voter permission to lessen the budget impact of voter approved initiatives that spend a lot of money.
Here and Now will explore whether the state needs a temporary tax increase and if so, what form it should take. The program will also look at the bigger picture--our state tax code--and what we can do better balance of tax structure.
What do you think we should do? Temporarily raises taxes? Borrow billions? Slash spending? Move?
Your ideas are welcome!
(except for the federal government, which can just borrow and borrow and borrow)
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Paul Atkinson - Here and Now Producer at
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Here and Now - Tax Policy & Politics
Ever wonder where your taxes go once they're paid? Here and Now examines tax policy and the impact politics has on it. Why do elected leaders shy away from voting on tax increases? Should cities be giving away millions in tax dollars to lure development? Where do we begin to reform our complicated federal tax law? Got a beef about taxes, a question or concern? Use the comments section below or call (480) 774.8200 Wednesday from 11 to noon.
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