Arizona Gov. Doug Ducey has set the wheels in motion for the largest personal income tax cut in the state’s 109-year history.
Ducey announced he has signed a package of bills that comprise the $13 billion state budget for fiscal year 2022, which began Thursday.
“Today, I’m proud to sign a budget that delivers for Arizonans,” Ducey said Wednesday in a news release. “Each and every Arizona taxpayer, no matter their income, will experience a tax cut under our historic tax reform. That means job creators will continue to choose our state to expand operations, working families will get to decide how they spend more of their hard-earned dollars, and those who served our nation will rightfully keep more of their own money.”
Ducey went on to say the budget gives money back to taxpayers while paying down debt.
“Under this budget plan, Arizona is paying off more than $1 billion in debt, we’re helping to protect families with the most sweeping child care package in the nation, and we’re making record investments in K-12 and higher education, infrastructure, public health and public safety,” he said.