The AZ GOP caucus has made a quarter-billion dollar property tax cut the non-negotiable centerpiece of this years budget process as we face as much as a $1 billion budget shortfall and even bigger budget deficits projected for 2009 and even 2010.

Why does the GOP want to cut taxes in the middle of a looming national recession and huge (~10%) state budget deficit?

There are very good reasons, none of which has anything to do with fiscal prudence, and everything to do with politics and ideological commitments:

First, and most obviously, they get to have their cake and eat it too by eliminating this property tax. The reinstatement of the state equalization property tax levy will take effect next year, and thus repealing it is budget neutral this year, yet the GOP gets to claim a quarter-billion dollar tax cut going into a tough campaign season in which the Democrats could quite conceivably take away their majority. They get to lock in a tax cut, and transfer the cost of that $250 million dollar cut to the General Fund next year.

Learn the next two reasons after the click…