With new income tax, Arizona falls from top 10 in economic outlook ranking

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Arizona has fallen from the nation’s ranks of most competitive economic outlooks after voters enacted a new income bracket to better fund public schools.

The Copper State ranks 13th for economic outlook in the U.S in the American Legislative Exchange Council Center for State Fiscal Reform’s 2021 Rich States, Poor States competitive index. The state ranked 10th last year.

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Judged by more than a dozen metrics, Arizona received low marks on its sales tax, minimum wage and top marginal income rate.

Voters approved Prop. 208 last fall. It created an additional 3.5% income tax on single filers with marginal income over $250,000 and joint filers making more than $500,000. The money is used to increase teacher pay, retention and other public school-related spending.

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www.washingtonexaminer.com/politics/with-new-income-tax-arizona-falls-from-top-10-in-economic-outlook-ranking

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