House speaker pushing tax credits, more expected - FOX 35 News Orlando

House speaker pushing tax credits, more expected


Associated Press

PHOENIX (AP) - A proposal by Arizona House Speaker Andy Tobin to increase a tax credit given to businesses that invest in research and development by 200% could be just 1 of many pushed by Republicans again this year in the Legislature.

Tobin says he's also considering another tax credit proposal and fellow Republicans have other ideas about helping businesses by adding new tax credits and other programs.

Cutting revenues runs counter to Gov. Jan Brewer's proposed budget, which doesn't envision any tax cuts or credits other than a revamping of the state's complicated sales tax collection program.

Democrats say such tax cuts benefit the wealthy at the expense of cuts to schools, health care and other important programs. Republicans contend they help the economy by improving the business climate.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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