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Several states cutting income
taxes to promote post-pandemic
economic growth

Original Article

Posted By: Garnet, 7/8/2021 2:16:55 PM

Arizona is the latest state looking to lower its income tax rate, citing a budget surplus despite the economic havoc wrought by the coronavirus pandemic.Gov. Doug Ducey last week signed a budget that includes a transition from the state’s current progressive tax structure to a flat tax rate of 2.5%, which would provide an estimated $340 reduction in the average state income tax payment. Ducey said Arizona is able to proceed with the tax cut because the state's economy is "booming" and has generated a budget surplus. Arizona is not the only state looking to cut taxes as the broader U.S. economy recovers from a recession.

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Reply 1 - Posted by: john56 7/8/2021 2:32:31 PM (No. 839417)
While California, New York, Illinois, and other RAT-infested states as well as the Regime of Sleepy Creepy Crooked President Uncle Joe figure they'll make economic growth by raising taxes and eliminating high paying jobs. Let's see which one works best. (I've seen this movie several times before. I remember what happens at the end.)
7 people like this.

Reply 2 - Posted by: caljeepgirl 7/8/2021 2:38:53 PM (No. 839428)
Thanks, OP. Good info.
2 people like this.

Reply 3 - Posted by: bad-hair 7/8/2021 3:47:34 PM (No. 839501)
We've all seen it too #1 The Feds print a ton of money and hand it to California, New York, and etc, etc, etc.
3 people like this.

Reply 4 - Posted by: smokincol 7/8/2021 4:17:39 PM (No. 839531)
and it is a given fact that - Massachusetts will NOT be one of those states now, or in the future. the Massachusetts legislature has never met a tax it didn't like and wouldn't adopt as law.
3 people like this.

Reply 5 - Posted by: Come And Take It 7/8/2021 4:22:24 PM (No. 839535)
#3 - You think that's bad? Illinois just got their credit rating UPGRADED for the first time in 20 years, solely on the basis that FedGov is bailing them out with unspent COVID funding. Our budget is a total shambles, but because Uncle Sugar passed out some of the printed largesse, all is now good.
2 people like this.

Reply 6 - Posted by: Luke21 7/8/2021 6:06:18 PM (No. 839674)
They put sky high taxes on internet purchases. Republican clowns.
0 people like this.

Reply 7 - Posted by: judy 7/9/2021 1:55:46 AM (No. 839937)
In the past year Virginia has raised the gas & sales tax....politicians are so slick...cut income taxes while increasing other taxes & fees ....
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Several states cutting income
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Posted by Garnet 7/8/2021 2:16:55 PM Post Reply
Arizona is the latest state looking to lower its income tax rate, citing a budget surplus despite the economic havoc wrought by the coronavirus pandemic.Gov. Doug Ducey last week signed a budget that includes a transition from the state’s current progressive tax structure to a flat tax rate of 2.5%, which would provide an estimated $340 reduction in the average state income tax payment. Ducey said Arizona is able to proceed with the tax cut because the state's economy is "booming" and has generated a budget surplus. Arizona is not the only state looking to cut taxes as the broader U.S. economy recovers from a recession.
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