Tuesday, April 19, 2022
FOR IMMEDIATE RELEASE
Arizona is the 3rd Most Economically
Competitive State
PHOENIX, ARIZONA- Arizona is the 3rd most economically competitive state in the nation, according to a new report released by the American Legislative Exchange Council (ALEC).
The report specifies, "The Economic Outlook Ranking is a forecast based on a state’s current standing in 15 state policy variables. Each of these factors is influenced directly by state lawmakers through the legislative process. Generally speaking, states that spend less — especially on income transfer programs — and states that tax less — particularly on productive activities such as working or investing — experience higher growth rates than states that tax and spend more."
Free-market and pro-taxpayer policy reforms have been top priorities for Sen. Vince Leach (LD-11) since he was elected to state office back in 2014, which helped contribute to Arizona's impressive ranking.
"While serving as Vice Chair of both the Senate Appropriations Committee and the Senate Finance Committee, I've advocated for fiscally conservative policies focusing on paying off state debt, cutting taxes and creating an environment competitive for attracting new businesses and growing a strong workforce, while removing big government red tape that suppresses the economic success and viability of states," said Sen. Leach. "It is our mission as a Republican-led legislative body to work for the wallets of our constituents, which is why we approved a historic state budget last year, cutting $1.9 billion to allow the hard-working men and women of Arizona to keep more of their paychecks with a personal income tax rate of 2.5% and a cap of 4.5% for high earners. With a surplus of funds this session, my goal is to do it again."
As Chairman of the ALEC Tax and Fiscal Policy Task Force, Sen. Leach is continuously looking for policies that will keep Arizona's designation as one of the best states to live, work, play, raise a family or start a business.
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For more information, contact:
Kim Quintero
Director of Communications
Arizona State Senate Republican Caucus
kquintero@azleg.gov