Tax-cutting bill, HB2001 has advanced in the Arizona's House, inching closer to approval. The proposed bill would allow the state income-tax brackets to be shifted each year to account for inflation. Currently our state's tax brackets are set at an unchanging fixed amount; which with each passing year, may push some households into higher tax brackets as inflation raises their income. Don't go spending your expected savings just yet, although the bill has been endorsed by Governor Doug Ducey, it must still be officially passed in the House and then passed on to the Senate for approval.
To read more about this bill and other legislative news following the link to Azcentral.