The first month of Arizona's penny-per-dollar sales-tax hike …
The first month of Arizona's penny-per-dollar sales-tax hike …
Just a few moments after Prop 100 passes, Gov. Jan Brewer talks…
Is a penny part of the solution to our problems? Tuesday voters…
Updated: Tuesday, 07 Sep 2010, 9:53 PM MST
Published : Tuesday, 07 Sep 2010, 9:51 PM MST
PHOENIX - Prop 100 -- two-thirds of Arizona voters approved it in May. The 1-cent sales tax increase, right in the middle of an economic downtown, promised to save education and public safety.
But now we're finding out the tax isn't generating as much as projected.
In the first month of the sales tax, the state took in $65 million in extra revenue from the sales tax -- but that's $7 million less than expected.
If consumer spending doesn't pick up soon, by the end of the year, Arizona could be dealing with close to a hundred million less than what the backers of the tax promised.
State Treasurer Dean Martin says that the budget is in the black, essentially working paycheck to paycheck. He's live in the newsroom to explain what this means for Arizona's financial future.
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