Brewer must act Wednesday on tax cut bills - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Brewer must act Wednesday on tax cut bills

PHOENIX (AP) -

Gov. Jan Brewer is set to act on the three remaining bills from the 2013 Arizona Legislature's session.

Brewer faces a Wednesday deadline to sign or veto the bills. They put in place tax breaks or credits totaling more than $90 million a year by 2015.

They include the automatic adjustment of tax brackets for inflation that will cost about $11 million a year and an increased research tax credit worth $10 million. The biggest cuts lift a cap in the amount of depreciation small and medium-sized businesses can claim instantly on new equipment. That provision is expected to save businesses nearly $71 million this year.

The bills were among a large number of tax cut proposals introduced this year. Only a handful made it to the governor's desk.

Copyright 2013 Associated Press. All rights reserved.

 

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