Arizona Facing Budget Shortfall

(Phoenix, AZ)  --  For the fiscal year that begins next July 1st, Arizona Legislature budget analysts predict the state will be about 104-million dollars shy of the 10-billion appropriated.  The analysts blame corporate tax cuts, which they say outweigh increases in sales, insurance premium and personal income tax collections.  State revenues for the 2017 budget year that ended June 30th came in $19 million below forecast, with sales and individual income tax ahead of projections and corporate income tax collections $52 million below forecast. This budget year's overall revenue projections have been revised downward.


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