The Arizona economy is still generating solid economic growth, with job gains above the national rate but well below the long-run state average. The housing market is improving, although the level of building activity remains low. Overall, the state is on pace to generate job, income, population, and retail sales gains in 2013, with faster growth expected during the next two years.
Education is a crucial determinant of long-run income growth. This assertion, true for individuals, where increases in education lead to higher salaries over time, is also true for nations, states, counties, metropolitan areas... [more]
Priorities, attitudes, politics and available public funding all influence both the level of state spending and the mix of those expenditures. This article provides a historical view of Arizona’s expenditures by major spending category. Long-term trends in both the mix of spending and the level of spending, adjusted for population and inflation, will be presented.[more]
General fund tax sources have changed substantially over the past 30 years. Half a dozen tax revenues sources have either been repealed or have been allocated out of the general fund. Currently only three tax revenue sources make up the bulk of the general fund: sales and use taxes, income taxes and insurance premium taxes. [more]