Like other states, Arizona lawmakers and public officials are elected in part to manage the state’s finances. State budgets are volatile, as they depend on anticipated revenues and planned expenditures, which may alter over the course of a fiscal year. When revenues do not keep pace with expenditures, states may decide to raise taxes, cut services, borrow money, or a combination of the three. For Arizona’s FY2023 budget, Governor Doug Ducey proposes a $14.25 billion budget.
Dorn Policy Group, Inc. is one of Arizona’s top public affairs firms. We are advocacy professionals who strive to obtain the results our clients want. The state’s budget is very important when it comes to managing our state’s services and revenue. As a business entity in Arizona, one must be on top of how the state’s money is being used. Read our blog post below to learn more about Governor Ducey’s current budget proposal.
Governor Ducey’s $14.25 Billion State Budget Proposal
In mid-January, Governor Ducey introduced a new budget proposal for the State of Arizona. The $14.25 billion in spending for the 2023 fiscal year includes nearly $1.4 billion in new spending, where most will go towards K-12 education, water infrastructure, investing more in Arizona’s “Rainy Day Fund,” and expanding Interstate 10. Additionally, $364 million of new spending will offset new tax cuts. The governor also wants to put $50 million into a border security fund, which would pay for some fencing on private land near the U.S.-Mexico border.
Upon releasing the budget, Governor Ducey shared, “We’re going full throttle to leave Arizona stronger than we found it through targeted investments in education, public safety, border security, infrastructure, and the things that matter to Arizonans.”
What Does Governor Ducey’s State Budget Proposal Mean for Arizonans?
As mentioned, Arizona’s state budget is the lifeblood of our economy. Without a strong budget at our disposal, many important services would not have the resources they need to operate efficiently.
Due to a growing demand for better education for our students, our lawmakers and governor is using this budget to help promote stronger school systems. State spending on K-12 education will increase to nearly $10.9 billion. This is a significant increase toward the public education system.
Additionally, Arizona’s water shortage has been one of the state’s top concerns for a while. The overall goal of the state’s $160 million spend on water infrastructure is to improve water augmentation across the state, along with nearly $150 million for rural water projects, increasing groundwater capacity, water banking, and other conservation solutions. Moreover, desalination is going to play a very important role in Arizona’s water future and this funding could help towards it.
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