Brewer axes 2 of 3 tax cut bills, last of session - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Brewer axes 2 of 3 tax cut bills, last of session

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Jan Brewer Jan Brewer
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PHOENIX (AP) -- Gov. Jan Brewer has vetoed two of the three remaining bills from the Arizona Legislature's 2013 session but signed a big tax cut bill for businesses.
 
Brewer axed a bill Wednesday that would have automatically adjusted tax brackets for inflation and cut state revenue by about $11 million a year. Brewer said the Legislature should consider adjustments yearly after reviewing the budget.
 
She also vetoed a bill by Republican House Speaker Andy Tobin that increased a research tax credit by $10 million. She said the refundable credit could have drawn on state tax dollars and deserved more scrutiny.
 
Brewer signed a bill lifting a cap on the amount of depreciation small and medium-sized businesses can claim instantly on new equipment. It could save businesses about $71 million this budget year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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