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    Arizona House Republicans Pass LandMark Budget with Historic Tax Reform & Debt Reduction

    Arizona House Republicans Pass Landmark Budget with Historic Tax Reform & Debt Reduction

    Prioritizes Families, Students, Public Safety, Water, Election Integrity

    STATE CAPITOL, PHOENIX – The Arizona House of Representatives, with the support of all 31 Republican majority members, today completed its work on passing a landmark state budget for the 2022 fiscal year.  Contained in the approved budget bills is a historic income tax rate reduction for all earners, as well as major investments in Arizona’s most critical needs, including infrastructure and transportation projects, reduction of state debt, increased K-12 and higher education funding, support for public safety, and strengthened election integrity.

     

    “The budget we approved prioritizes Arizona’s families and businesses, allowing them to keep more of the money they earn,” said House Speaker Rusty Bowers. “We also set aside $200 million in new funding for water infrastructure projects – key to securing Arizona’s future, and one of our highest priorities. This, combined with lower taxes for everyone and a stronger business environment, and Arizona’s future truly has unlimited potential!”

     

    Under the Republican plan passed today, state income tax brackets will condense to a flat rate which simplifies the tax code for all. It also increases the deduction for charitable contributions helping our community partners that have provided a lifeline during the COVID-19 pandemic.

     

    “It’s a balanced, responsible plan that supports the priorities that Arizonans value, like our schools, public safety, and our veterans,” said House Majority Leader Ben Toma, who authored the tax reforms in the Republican Budget Plan. “The historic flat tax rate reform reduces income taxes for every Arizonan and will create a competitive business environment to attract more jobs and keep our economy growing.”

     

    “The Republican Plan uses taxpayer dollars wisely to invest in our state’s future, improving our roads, highways, water and environment, critical infrastructure, and significantly paying down our debt,” said Representative Regina Cobb, who, as the House Appropriations Committee Chair, was instrumental in crafting the Republican budget. “I’m proud of the historic tax reform approved in this budget and the good it will do for Arizona’s working families, charitable partners and businesses in the years ahead.”

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