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New Numbers Show How Tax Cuts Are Affecting Arizona Economy

Numbers from the Arizona Finance Advisory Committee show business tax cuts enacted a few years ago will cost Arizona about $350 million in lost revenue once they’re fully phased in.

While the panel says there’s no definitive evidence a drop in corporate income taxes is because of those tax cuts, the group says it is likely. Those cuts were enacted with the goal of recruiting more businesses to the state. Economist Jim Rounds, president of Rounds Consulting Group, spoke about the report.

Mark Brodie is a co-host of The Show, KJZZ’s locally produced news magazine. Since starting at KJZZ in 2002, Brodie has been a host, reporter and producer, including several years covering the Arizona Legislature, based at the Capitol.