Arizona’s budget deficit, stemming from reduced tax revenues and increased school voucher costs, will be a key focus as Governor Katie Hobbs and the Republican-controlled Legislature convene.
The state, which had a surplus last year, now faces a $400 million shortfall this fiscal year and a $450 million shortfall the next.
A recent tax cut and an expanded school voucher program have contributed to the financial strain.
Arizona faces a $1 billion deficit caused by plummeting tax revenues and escalating school voucher costs as the state Legislature opens the 2024 session. https://t.co/KI0Dov4rln
— ABC News (@ABC) January 8, 2024
Additionally, water scarcity due to a severe drought and concerns about migrant arrivals on the southern border are significant issues to be addressed.
Hobbs called the drought a “challenge of our time.”
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