Phoenix, Arizona - On Monday’s front page, the Arizona Republic reported “Economists Agree With Ducey’s Forecast.” The article details how projections from economists in Arizona and around the country align with those at the core of Governor Doug Ducey’s 20x2020 plan.
The 20x2020 plan gives Arizona teachers a 20 percent raise by 2020 and invests new dollars in Arizona’s public schools -- all without raising taxes. Increased state revenues due to our state’s thriving economy will allow more money to reach Arizona’s teachers and classrooms.
Find out what economists have to say about Arizona’s growing economy:
National Economists:
- Moody's Analytics: According to the Republic, “Moody’s Analytics estimates personal-income growth in Arizona to average 6 percent this calendar year, which covers half the state's fiscal 2018 and the first half of fiscal 2019.” On Governor Ducey’s plan, economist Jesse Rogers from Moody’s Analytics in Pennsylvania said, “The state government forecast is reasonable.”
Arizona Economists:
- Dennis Hoffman, Seidman Institute Director at the W.P. Carey School of Business, Arizona State University: “Hoffman predicts state revenue to grow between 5 and 6 percent in the next few years...Hoffman said a recent revision to federal data that showed stronger job growth toward the end of 2017 has validated the forecast that Arizona's economy is poised to pick up speed.” According to the Republic, Hoffman said, “‘The economy was indeed doing better than what was thought before.”
- George Hammond, Economic and Business Research Center Director at the Eller College of Management, University of Arizona: The Republic reported that George Hammond largely agrees with Dennis Hoffman's economic forecast. “‘My forecast for the state calls for continued strong economic growth in terms of jobs, income and population gains,’ Hammond said.” The Republic notes that Hammond, “said growth should speed up in the next few years,” and “projects personal income growth to range from 5 to 6 percent.”