I warned you that this was coming years ago in The First Rule of Holes Revisited:
[O]ur Tea-Publican legislature passed in a Special Session what was laughingly labeled a “jobs bill” — it was, in fact a corporate welfare tax-giveaway plan. The GOP’s double dose of poison to kill Arizona:
Senate Bill 1001 is filled with tax breaks and incentives for businesses large and small. The legislative budget office estimated its cost at $538 million by 2018 [worsening Arizona’s structural revenue deficit], when all the tax cuts are phased in.
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Brewer’s advisors acknowledged that there is no guarantee the changes would yield enough new investment and jobs to offset the anticipated revenue loss.
La Bruja‘s corporate welfare tax-giveaway plan is being phased in since 2014. Additional tax cuts enacted by our lawless Tea-Publican legislature since 2011 are also being phased in. Their blind faith in supply-side “trickle down” GOP economics is now coming home to roost as these corporate welfare tax-giveaways are digging the structural revenue deficit hole deeper as designed.