The Arizona State Senate Finance Committee will consider approving legislation (both SB1143 and HB2522) on Monday to go to the Senate floor that would take increased revenues the state is projected to receive from the 2017 Federal Tax “Reform” and allocate them back to the people through tax cuts. Approximately 65 percent of the recipients of this legislation will be the upper class.
Democrats and Progressive public servants like State Representative Ways and Means Committeeperson Mitzi Epstein and organizations (The Arizona Center for Economic Progress) feel that giving another tax cut to the citizens of our state, most of them to the wealthy is poor prioritization of our public policy goals.
They are right.
As the Center for Economic Progress and Democrats like Ms. Epstein serving in the legislature have pointed out, there are more urgent needs that those funds should be used to address. These needs include fully funding education, helping children in poverty, tending to our infrastructure, paying our first responders (police and firefighters) and increasing the rainy day fund. The people, especially the wealthy do not need another tax cut when children need help.
Historically, it is amazing that Republicans still hold to the Supply Side and Trickle Down Gospel of Economic Prosperity. It did not work under Reagan (whose economic stewardship was helped by declining gas prices, interest rate reductions, and the proliferation of access to credit cards). It did not work under George W. Bush as the global economy collapsed. It is not working under Trump. Republicans should read history and study that the best times of economic prosperity in this nation occurred either when the wealthy paid 70 percent or more in taxes or when the Clinton and Obama Administrations raised them.
A good state or national economy depends on sound fiscal and investment strategies. Part of those strategies is investing in the people you serve and making sure they are “not left behind.”
If you feel that it is better to fully fund our schools and help children before giving out more tax cuts. then please contact your legislators and let them know how you want them to vote on both SB1143 and HB2522.