The pandemic created challenges for everyone. Arizonans of all walks have been affected by COVID-19. As we begin to return to a sense of normalcy, we need our government working to help us recover stronger.
Arizona is in a strong place, with a projected $2 billion surplus at the end of next year. But instead of reducing taxes to encourage growth and prosperity, our lawmakers last year nearly doubled the income tax on the earners and small businesses we need to attract to and keep in the state.
According to research published by the CATO Institute, taxation does impact where businesses locate and where individuals move. The lowest taxed states saw the largest net in-migration. This tax hike discourages growth and makes Arizona much less competitive to other high-growth states.
Veterans and veteran-owned businesses can help lead Arizona’s recovery. Many veterans choose to make Arizona home because of our lower cost of living and better livelihood. And reports have shown veteran-owned businesses have fared slightly better through the past year than others and will continue to do so going forward. But they must be allowed to thrive.
We have an opportunity to make Arizona an attractive place for people to move and for businesses to set up shop: meaningful, comprehensive tax reform that will put our economy into overdrive and help our veterans, their families, and our businesses thrive. But we need our lawmakers to remove, not erect, barriers to that growth.
Everyone will benefit if the income tax is eliminated or if the brackets are consolidated into one low flat rate, including veterans and their families. It is our hope that legislators will return the surplus revenues back to taxpayers with lower taxes and eliminate wasteful spending.
Please sign the letter to urge your lawmakers to support income tax relief to let all Arizona’s veterans keep more of their paychecks to provide for their families!