Corporate tax break, Part 2

by David Safier

Remember that $500 million-plus corporate tax break the Republicans rushed into law? Remember how it was first the "jobs bill," then the "competitiveness bill," and it was going to cause a stampede of new businesses crazy to set up shop here? And remember how it's backloaded to start around 2015 so it doesn't drain money from the one cent sales tax hike?

Apparently, that bill didn't have enough tax breaks to suit some business and Republican lawmakers, and it's not starting soon enough.

Get ready for SB1041.

The Greater Phoenix Economic Council is rallying support for SB1041, a slate of tax credits and property tax incentives that were stripped out of the so-called jobs bill during negotiations over the sweeping package of tax reforms. The plan, which GPEC has dubbed “Invest Arizona,” would expand the job-creation tax incentive established in the competitiveness package and create temporary property tax breaks for high-dollar investments.

This one is far from a slam dunk. It's got serious opposition from some Republicans. But sometimes opposition fades away if the right people in the right places on the extreme Right put their muscle behind a piece of legislation.

Comments are closed.