An opportunity for lawmakers to stand with small business and make meaningful change benefiting all Arizonans
PHOENIX, June 7, 2021—Today, Arizona lawmakers in the State House will have a clear choice to consider with House Bill 2900 on its calendar. Lawmakers can stand with small business owners and support the income and property tax provisions in the bill, or fumble the opportunity and leave tax-paying small business owners hanging out to dry.
“In Arizona, we have a crisis of competitiveness in our personal income and commercial property tax systems,” said Chad Heinrich, Arizona state director for the National Federation of Independent Business, the nation’s largest small-business association.
“Today we could find out how many lawmakers actually care about the future of small business in Arizona. Lawmakers must be wise and recognize the siren songs of local government lobbyists for the hysterical noise that they are,”
“Everyone should go into this vote knowing that most city governments are flusher with funds than any time in recent history, that cities will continue to receive a generous share of State income tax revenue, and — most important of all – this is a one-time opportunity to reform our tax system that will aid predictability, stability, and future revenue growth for our state.”
The budget and tax plan has many provisions, but at the core it:
- would establish a single rate state income tax of 2.5% for everyone; this is lower than each marginal rate currently paid by Arizonans
- would get around the negative effects of Proposition 208 by setting a 4.5% rate cap on personal income
- increase funding for schools
- and keep local government finances flush by continuing to share a generous portion of state income tax revenue with Arizona’s cities and towns.
Keep up with the latest on Arizona small business news at www.nfib.com/arizona or by following NFIB on Twitter @NFIB_AZ
For 78 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.