Tucson City Council has set the spending cap for next fiscal year before it's set to approve a final spending plan on June 6.
Nicole Ludden A spending cap of $2.2 billion for next fiscal year’s budget was approved last week by the Tucson City Council in a spending plan that outlines significant local investments while considering the financial volatility of coming years.
People are also reading… Several speakers at Tuesday’s budget hearing expressed concern the city isn’t putting enough resources behind its new Climate Action Plan council members adopted in March. The tentative budget puts about $1 million toward the first year of the plan for projects like quantifying fugitive emissions, creating an energy usage benchmark study and inventorying greenhouse gas emissions.
The state income tax will drop to 2.5% for all taxpayers and replace the progressive tax rate structure based on income. Tucson will lose a significant amount of the state-shared income tax funding that makes up 12% of its general fund revenues. Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | YouTube | RSS Feed | Omny Studio “ have a very direct and real impact to our budgeting in those future years,” Ortega said. “I'm not concerned about our ability to reduce the budget by 2% and come into structural balance, but I wanted to highlight that so that we don't think that ‘Oh, well, that happened at the legislature, but it doesn't have an impact on us here locally.
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