Given the scourge of bad policy coming out of Washington, I thought you might appreciate a little bit of good news.
You may have read in the Hotline this past Friday that the Committee to Unleash Prosperity scored a big victory in Arizona where Republicans passed Gov Doug Ducey’s flat rate income tax plan. It is the biggest tax cut in any state in several years. The highest tax rate gets chopped from 8% (the ninth highest in the nation) to 4.5%, and a rate of 2.5% for middle and lower income Arizonans.
It passed by one single vote in the House and one single vote in the Senate. We helped design the bill and worked closely with Ducey throughout. He cites our study on the Economic Impact of the Flat Tax – which estimates the lower tax rates mean 250,000 additional jobs for AZ over the next decade – as a big factor in getting this pushed over the goal line.
Meanwhile, New York this year RAISED its income tax rate to 15%. The divide between rich and poor states keeps expanding.
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