PHOENIX - Republican lawmakers on Monday unveiled their plan to balance the state budget and finance the tax breaks they want by eliminating others they don't.
Gone would be nearly $100 million for economic development projects - including $19 million of diverted state sales taxes now used by the Tucson Rio Nuevo project to spur business and residential growth in the southern Arizona community.
The proposed budget - $800 million less than proposed in January by Gov. Katie Hobbs - also would do away with the Arizona Commerce Authority Compete Fund which provides grants to attract, retain and support new business. According to the plan, that not only saves $4 million going forward but also drains approximately $63 million already in the account.
