Presented by: Chris Herstam Lewis Roca Rothgerber Christie April - - PowerPoint PPT Presentation

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Presented by: Chris Herstam Lewis Roca Rothgerber Christie April - - PowerPoint PPT Presentation

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Presented by: Chris Herstam Lewis Roca Rothgerber Christie April 26, 2016 April, 2016 (General Fund Dollars in Millions) FY 16 FY 17 Beginning Balance 312.3 471.5 Ongoing Revenues 9164.0 9396.9 New Tax Cuts - -30 Other Revenues 264

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Presented by: Chris Herstam Lewis Roca Rothgerber Christie April 26, 2016

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FY 16 FY 17 Beginning Balance 312.3 471.5 Ongoing Revenues 9164.0 9396.9 New Tax Cuts

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Other Revenues 264 0.5 Ongoing Expenditures 9230.5 9376.9 Other Expenditures 38.3 35.7 Ending Balance 471.5 426.3 Structural Balance

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April, 2016 (General Fund Dollars in Millions)

Source: Children’s Action Alliance, April, 2016.

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The early Senate budget proposal largely mirrors the Governor’s January budget proposal with no restoration of KidsCare, no new investments in public school teachers or classroom textbooks or technology, no restoration of cuts to university education, no new funding for workforce development, no shifts in strategy to strengthen families.

Additional, unnamed permanent tax cuts of $30 million each year will make it harder to restore missing funding to public schools and harder to achieve structural balance.

The proposal reduces state funding per student in public schools (adjusted for inflation).

The major new investment in the budget is $28 million for expansion of the Governor’s Border Strike Task Force.

For the Department of Child Safety, the Senate prioritizes prevention and in-home services to reduce the growth in foster care; the Senate cuts $18 million out of the Governor’s proposal which may leave funding short of meeting basic needs.

The Senate proposes a rainy day fund balance of $470 million plus a cash balance that doubles from $420 million to $840 million by fiscal year 2019. It leaves this funding unallocated.

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2016 Revenues are Projected to be $460 M Below Pre=Recession Levels: 85% of that is Due to Tax Cuts Passed Since 2009

$70 Million Revenues Lost Due to Tax Cuts $390 Million

Source: Children’s Action Alliance, March, 2016.

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GOP Legislature has passed a tax cut every year since 1990 (except 2003) TOTAL LOST NET REVENUE TO ARIZONA:

$4 Billion when adjusted for inflation!

Per 2016 JLBC “Tax Handbook”

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204% Interest

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 Prop. 123: K-12 Funding (State Trust Lands)  Prop. 124: Public-safety Pension system

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Anne Kirkpatrick John McCain Alex Mcluskey Kelli Ward

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Paul Babeu Carlyle Begay Ken Bennett David Gowan Tom O’Halleran James Maloney Miguel Olivas Levi Tappan Gary Kiehne Shawn Redd Wendy Rogers

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Matt Heinz Victoria Steele Martha McSally

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Andy Biggs Christine Jones Bryan Martyn Justin Olsen Don Stapley

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3 of 5 seats are open:

 Bob Burns, GOP  Tom Chabin, Dem  Rick Gray, GOP  Al Melvin, GOP  Bill Mundell, Dem  Andy Tobin, GOP

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AZ Solar Energy Freedom Act

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Presented by: Chris Herstam Lewis Roca Rothgerber Christie April 26, 2016