Tuesday, April 27, 2010

Arizona's version of the corporate bailout bill dead...for now

From Howard Fischer of Capitol Media Services, via East Valley Tribune (my link) -
Senate Republicans drove the final nail Monday into a House-passed package of tax cuts for business.

Several members of the GOP caucus said they could not go along with a package to sharply cut corporate income taxes, phase out the state property tax and give other breaks to businesses. The plan, as approved earlier this year by the House, eventually would have slashed state revenues by $950 million a year.

The package had been trimmed into something that would have cost the state $600 million per year in lost revenue.

Of course, even in that "compromise", the priorities of House Speaker Kirk Adams and the rest of the Rs in the lege were made clear - they eliminated a cut to the state's personal income tax rate while leaving the corporate cuts intact.

Apparently, enough members of the R caucus realized that a year in which they eliminated KidsCare, closed state parks, and caused the layoffs of thousands of teachers may not be the best year in which to give a massive gift to corporations.

Especially a week after the approved the police state bill and put the state and themselves under a national and worldwide microscope.

Something tells me that the Rs really wanted to approve the corporate gifts, but didn't want to be seen doing so.

AZBlueMeanie at Blog for Arizona has coverage here.

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