Friday, June 10, 2011

Critics say sales tax increase might not bring in $1B - Phoenix Business Journal:

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It has yet to be disclosed when voterd might be asked toadd 1-poing to the state’s 5.6 percent saleds tax for three years. But that vote coule occur later this year orin 2010. Breweer and backers of the sales taxincrease (including in the Valley’ss business establishment) say the increasd will bring in $1 billion annually and help close budgey deficits and help avoid draconian cuts to public health care and universities. But skeptics of the sales tax boosft questions whether it would brinh in that much considering sales tax collections at the state and local levels have been hit bythe recession, housinf market crash and pull back in consumee and business spending.
Tom Jenney, state director for the anti-tac , said the proceeds from the salese tax increase could be morelike $750 million Moderate business groups such as Greater Phoenisx Leadership, Westmarc and the East Valley Partnershiop back the sales tax increase.

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