June 24, 2008

FOR IMMEDIATE RELEASE

 

 

 

SENATE ANNOUNCES BIPARTISAN BUDGET

 

STATE CAPITOL, Phoenix – Today, Senate President Tim Bee (R-Tucson) and Senate Minority Leader Marsha Arzberger (D-Willcox) will announce details on a bipartisan budget for fiscal year 2009 that balances Arizona’s current shortfall without cutting dollars for education or raising taxes.

 

Time:              11:45 a.m.

Location:        Senate Hearing Room 1, State Capitol, 1700 W. Washington, St. Phoenix

Broadcast:      Cox 123

Internet:         http://azleg.granicus.com/Mediaplayer.php?publish_id=5

 

The bipartisan group worked to protect vital issues important to both Senate and House members including education, healthcare, children and seniors. The budget achieves balance with a combination of fiscal measures including agency cuts and transfers and bonding for construction.

 

“This is a fiscally responsible budget that solves our current deficit without shortchanging our most important priorities or sacrificing our state’s future,” said President Bee. “This budget provides the much needed stewardship to guide Arizona through a financially difficult time.”

 

“This budget is a major bipartisan step in solving our budget deficit,” said Sen. Arzberger. “It contains some painful cuts that were difficult to make, but we protected what is most important to Arizonans. I think it represents the best way to solve our current problems while looking forward to the future.”

 

Reductions include $344 million in fund transfers, $361 million in agency reductions, $106 million in HURF transfers, $66 million in building renewal and $141 million in deferral of school construction totaling more than $1 billion. Borrowing options include $330 million in K-12 rollover, $587 million in K-12 lease-to-own and $50 million in additional accounting options totaling $967 million. The budget also includes some additional transfers and reductions totaling $36 million. The total budget package equals $2.02 billion.

 

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Additional Media Contacts:

Victor Riches, Senate Republican Caucus, 602-926-3209, vriches@azleg.gov

Jeanette Tejeda de Gomez, Senate Democratic Caucus, 602-926-4477, jtejeda@azleg.gov