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ARIZONA'S 2023 ECONOMIC PERFORMANCE INDEX
In macroeconomics, the economic performance of a state is generally measured by economic growth (GDP), unemployment, and labor force participation, among others. CSI developed the Economic Performance Index to assess the overall economic performance of Arizona relative to other states. It is comprised of seven metrics:
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GOVERNMENT SHUTDOWN AVOIDED...FOR NOW
The House passed a temporary funding bill to avert a partial shutdown on Thursday, February 29th, sending the bill to the Senate, where it passed 77-13. The latest stopgap now heads to President Biden's desk.
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BUSINESS OWNER OPTIMISM SOARS AMID ECONOMIC CONDITIONS
PNC‘s latest semi-annual survey of small and mid-sized businesses, which concluded Feb. 1, shows that business owner optimism about economic conditions over the next six months has reached a 22-year high amid lessening fears of a recession.
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MAIN STREE FACES A 2025 TAX HIKE THREAT
More than 22 million privately held and family-owned businesses could see a major tax increase in 2025 if Congress does not act.
When Congress lowered corporate tax rates in 2017, it created a new 20% pass-through deduction for sole proprietorships, partnerships, and S corporations.
Why it matters: The deduction is scheduled to expire at the end of 2025. Congress can protect these businesses by enacting the “Main Street Tax Certainty Act,” which would make the deduction permanent.
Allowing the deduction to expire would result in a tax increase on millions of businesses, directly hurting workers and the economy.
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EARLY VOTING
Early Voting is underway for the March 19 Presidential Preference Election (PPE). This election takes place every four years when the Office of the President of the United States is on the ballot. Only registered Republicans and Democrats can vote in the PPE.
Request and mail-in early ballot.
AZ HAS THE 10TH LOWEST REAL ESTATE PROPERTY TAXES
Depending on where you live, property taxes can be a small inconvenience or a major burden. How do Arizona property taxes rank? The average American household spends $2,869 on property tax for their homes each year, according to the U.S. Census Bureau, and residents of the 26 states with vehicle property taxes shell out another $448.
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6 SMART B2B BUSINESS STRATEGIES
The business-to-business (B2B) marketplace continues to change rapidly as technology evolves. Client expectations are being reshaped by new trends like the implementation of artificial intelligence (AI) and voice search — now a daily tool for half of the U.S. population — as well as the ongoing impact of digital transformation.
More Information Here.
Crossover Week
This week marks "crossover" week in the Legislature. Bills moved from one chamber to the other this week with a significant amount of floor action. The House had 18 Committee of the Whole calendars on Wednesday the 21st and worked on the floor from morning until evening. On Thursday, the House “3rd read” more than 100 bills.
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