by Matthew Holloway | Mar 17, 2025 | Economy, News
By Matthew Holloway |
In a new report from Common Sense Institute (CSI) Arizona, inflation as measured by the Consumer Price Index (CPI) in the Phoenix metro area, remained under the 2% target for the sixth consecutive month. In February, CSI Arizona recorded a year-over-year inflation rate of 1.8% for the metropolitan area. The national rate is currently +2.8% year-over-year, although it is down since President Donald Trump took office.
According to CSI Arizona, the largest driver of inflation has long been the cost of shelter, which was up +0.7% in February with annual shelter costs rising 1.2% year over year. In a post to X, CSI summarized the report stating, “Phoenix is outperforming most of the country when it comes to rising prices.”
The report noted, “Among the 23 metro areas measured in the CPI each month, Phoenix ranks 22 in year-over-year inflation (2nd lowest). This is a dramatic change from 2022-2023, when the region consistently ranked among the highest.”
CSI Arizona goes on to observe in the report that the rate of national inflation has historically followed trends in the federal deficit with an approximate lag of 12-24 months and local or state levels are subject to regional dynamics as well, but tend to correspond with the national rate. In December, Fox 10 reported that homelessness in Arizona saw a 3.5% increase since 2023, with over 14,000 people experiencing homelessness.
Nathan Smith, CEO of Central Arizona Shelter Services told the outlet, “The cost of living continues to outstrip what people are making, and we’re seeing that we’re at a bit of an inflection point here in Arizona as we are facing the highest eviction rate that we’ve ever had.”
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Jonathan Eberle | Mar 16, 2025 | Economy, News
By Jonathan Eberle |
Arizona lawmakers are facing mounting backlash over a proposed pay raise bill that would increase the salaries of state legislators by a significant margin. Senate Concurrent Resolution 1003, introduced in the Arizona State Senate, seeks to boost the base pay for Arizona legislators, raising concerns about the timing of the proposal and the growing burden on taxpayers in an already financially strained state.
The bill, which passed initial stages in the legislature, aims to increase the base salary of lawmakers from $24,000 to $48,000, a 100% increase. Additionally, it proposes an increase in per diem payments and other benefits. The bill’s sponsors argue that this pay increase is necessary to attract qualified candidates to public office as well as keeping up with inflation.
The bill’s sponsor, Senator John Kavanaugh, says that he’s not worried about potential pushback from Arizona voters. “I do not think those voters wanted their $24,000 raise diluted by inflation to about $11,000,” Kavanaugh said. He said this calculation was based on the buying power that figure had in 1998—the last time Arizona lawmakers received a pay raise.
However, critics of the bill argue that such a significant pay raise for lawmakers comes at a time when many Arizonans are struggling to make ends meet due to rising costs of living and a housing crisis that has left many families in financial hardship. The proposal has raised questions about whether elected officials are out of touch with the economic realities faced by their constituents.
The timing of the bill has led some to question the motivation behind it. Critics argue that lawmakers, many of whom already have full-time jobs outside of their legislative duties, should not be seeking a pay raise while so many Arizonans are still struggling financially. Others believe the pay raise is necessary to ensure current lawmakers can make ends meet.
Democrat Senator Eva Burch recently announced her resignation from the legislature, citing that she’s struggling to make ends meet and to find balance with her legislative work and her job as a healthcare provider. “I know that I am not the first, nor will be the last, good person to find themselves a casualty of legislative pay,” said Burch.
As SCR 1003 makes its way through the Arizona Legislature, the controversy surrounding the proposed pay raise for state lawmakers is unlikely to subside anytime soon. With many Arizonans still feeling the financial pressure from rising living costs, the bill has become a flashpoint in the ongoing debate over government priorities and fiscal responsibility.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Matthew Holloway | Mar 13, 2025 | Economy, News
By Matthew Holloway |
In a dramatic defeat for the proponents of Diversity, Equity, and Inclusion (DEI), along with other various apparatus of leftist governance, Tucson voters struck down the proposed Safe & Vibrant City ballot measure on Tuesday. The measure would have increased the city’s overall sales tax by a half-cent, extracting an estimated $80 million in annual revenue from taxpayers to fund a raft of left-leaning agenda items.
The final result saw 69.76% vote NO with 30.18% voting YES.
Michael Guymon, President and CEO of the Tucson Metro Chamber, told KVOA, “I am very pleased the voters supported our message of fiscal responsibility without the need to raise taxes on our community’s most vulnerable individuals.”
The No on Prop 414 coalition, a group of business owners and Tucson residents opposed to the measure, celebrated the defeat of the proposition as well stating, “The resounding defeat of Prop. 414 is an important victory for all Tucsonans and an important first step in making sure city resources go to where they can do the most good. While we celebrate that we won’t be directly funding increased surveillance and the harms of policing with every dollar we spend for the next 10 years, we understand that there are still urgent, unmet needs in the community.”
Scot Mussi, President of the Arizona Free Enterprise Club, also celebrated the results of the election saying, “Voters from all sides of the political aisle made the correct decision in Tucson today. This tax increase was another failed attempt by Tucson’s radical leaders to take more tax dollars from hard-working men and women to fund an insatiable leftist agenda.”
Mussi added, “We have seen over the years how Tucson officials have embraced globalist environmental, energy, and social justice propaganda and policies to steer their municipality – and even our state – into that camp. Tonight, Tucson voters rejected these efforts, rightly deciding to keep their tax dollars for themselves.”
According to AZCentral, $13.4 million of the new tax would have gone “to community and justice-related programs” with approximately two-thirds of it being directed toward public safety measures. The proposition was also strongly endorsed by Democrat former state Sen. Kristen Engel, who was recently defeated in a challenge to Republican Congressman Juan Ciscomani.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Matthew Holloway | Mar 6, 2025 | Economy, News
By Matthew Holloway |
Arizona Congressman Abe Hamadeh (R-AZ8) issued a statement following the announcement by President Donald Trump of a pivotal deal with TSMC (Taiwan Semiconductor Manufacturing Co.) to bring $100 billion in investment for chip manufacturing plants in the U.S. over the next four years.
“Earlier this month, my team met with representatives of TSMC to discuss their plans for future jobs in Arizona, which should focus on tapping into our veteran workforce,” Hamadeh said in the statement. “They are clearly committed to President Trump’s American First Manufacturing agenda, bringing high-paying employment opportunities to CD8 allowing US leaders to increase the quality of life for our residents.”
TSMC established itself during the Biden Administration through the controversial 2020 CHIPS Act. It was at the center of a lawsuit in November due to its hiring practices allegedly favoring Taiwanese nationals as previously reported by AZ Free News. Their current Arizona facility is located within Hamadeh’s congressional district.
In December, the development of TSMC’s Phoenix facility was placed at risk by an unfavorable nonattainment status of ozone National Ambient Air Quality Standards (NAAQS) by the EPA under Biden, leading then-Congresswoman Debbie Lesko, Hamadeh’s predecessor to intervene.
In December 2022, TSMC announced a commitment to build a second fabrication facility (fab) in addition to its North Phoenix facility, increasing its total investment to $40 billion.
As detailed by President Trump in a press conference on Monday, the new investment is set to bring Arizona’s total number of TSMC facilities to five, with thousands of new jobs.
President Trump told reporters, “This $100 billion in new investment will go into building five cutting-edge fabrication facilities in the great state that we just discussed, Arizona, and will create thousands of jobs — many thousands of jobs, and they’re high-paying jobs. In total, today’s announcement brings Taiwan Semiconductor investments to about $165 billion — they’ve started already — among the largest new foreign direct investments in the United States.”
The President added, “Taiwan pretty much has a monopoly on that market. And I think ‘pretty much’ is not a term that’s even appropriate. They do have a monopoly. And this is a tremendous move by the most powerful company in the world. It’s a matter of economic security. It’s also a matter of national security for us.”
TSMC expansion is expected to create approximately 80,000 jobs over the next 5 years.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Matthew Holloway | Mar 6, 2025 | Economy, News
By Matthew Holloway |
The Arizona Corporation Commission (ACC) is urging caution from the public in the use of Crypto ATMs with a warning that they are being utilized to facilitate cryptocurrency scams in a bigger way “than ever before.” Reporting from the FBI has indicated losses to consumers in Arizona of over $325 million.
According to a press release by the ACC Securities Division, national data from the Federal Trade Commission (FTC) has shown American consumers reporting losses in excess of $110 million through scams linked to cryptocurrency ATMs documented in 2023, a drastic escalation at ten-times the 2020 figure.
As explained by the ACC, Crypto ATMs, kiosks that allow users to purchase cryptocurrencies using a credit or debit card, have become more ubiquitous and are visually similar to traditional ATMs. They are often located at gas stations, convenience stores, malls, and other places where an ATM would typically be present. However, unlike a typical ATM, these kiosks convert dollars to cryptocurrency held in an electronic wallet… for a fee.
Portal scamming, an already common issue at ATMs, fuel pumps, and cash registers poses an added danger with the advent of Crypto ATMs as the ACC explains:
“The scams typically start through online chats, social media, emails, texts, pop-up messages and phone calls from strangers. The lies told by scammers vary, but they create some urgent justification for consumers to take cash out of their bank accounts and put it into a crypto ATM.
“Often, the scammers fabricate an investment that promises great returns with limited risk. When consumers put their money into the crypto ATM, the ATM converts the money to cryptocurrency. The consumer types in the scammer’s electronic wallet address, or the consumer is given a QR code to scan which points to the scammer’s electronic wallet address. The ATM then transfers the crypto to the scammer’s electronic wallet. Once in their control the scammers quickly move the crypto making it very difficult to trace and recover.”
The commission offered a series of proactive recommendations to consumers to avoid becoming a victim to scam artists employing these tactics:
- Never click on links or respond directly to unexpected calls, messages, or computer pop-ups. If you think it could be legitimate, contact the company or agency, but look up their number or website yourself. Don’t use the phone number the caller or message gave you.
- Slow down. Scammers want to rush you, so stop and check it out. Before you do anything else, talk with someone you trust.
- Never withdraw cash in response to an unexpected call or message. Only scammers will tell you to do that.
- Don’t believe anyone who says you need to use a crypto ATM to protect your money or to fix a problem or to get in a great investment. Real businesses and government agencies will never do that—and anyone who asks is a scammer.
One victim identified as Tamara Glerum by AZFamily, reportedly lost $28,000 to a scammer, with the FBI stating that Arizonans overall lost about $325 million in reported Crypto ATM fraud.
As reported by ABC15, a Peoria woman reportedly lost $17,000 to such as scam, and AZ State Rep. David Marshall has introduced House Bill 2387 to crack down on Crypto ATM fraud by imposing a $1,000 daily transaction limit on the devices, requiring state operator licensing and refund policy options as well.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Daniel Stefanski | Mar 1, 2025 | Economy, News
By Daniel Stefanski |
A proposal to help keep cash in circulation is moving on in the Arizona Legislature.
Earlier this week, the Arizona House of Representatives approved HB 2683 “to ensure that businesses with a physical presence in Arizona must accept cash for transactions up to $100.” The bill was sponsored by State Representative Joseph Chaplik.
In a statement accompanying the announcement of the bill’s progress, Chaplik said, “Legal tender is exactly that – it must be accepted. Millions of Americans, including the most financially vulnerable rely on cash for their daily transactions. No one should be denied the ability to buy groceries, medicine, or other essentials simply because they choose or need to use cash.”
Chaplik added, “Not everyone has a credit card or a bank account. This bill protects seniors, working-class families, and those who prefer the privacy of cash transactions. It stops businesses from turning away customers who are simply trying to pay with their own hard-earned money.”
The bill was overwhelmingly passed by the state House with a 45-15 vote. Earlier in the month, HB 2683 was given the green light from the House Commerce Committee with a unanimous 10-0 vote.
According to the press release from the Arizona House Republicans, the legislation would “prohibit businesses from imposing extra fees for cash payments and establishes civil penalties for violations. The bill does not apply to online sales or private contracts but ensures that brick-and-mortar businesses cannot deny customers the ability to use U.S. currency.” The release also revealed that similar statutes are in place in the States of Colorado, New York, New Jersey, and Pennsylvania.
On the Arizona Legislature’s Request to Speak system, representatives from Arizona Public Interest Research Group and Arizona Faith Network signed in to support the bill. Representatives from the Chandler Chamber of Commerce, Arizona Chamber of Commerce, East Valley Chambers of Commerce Alliance, West Valley Chamber of Commerce Alliance, National Federation of Independent Business, Buckeye Valley Chamber of Commerce, and Greater Phoenix Chamber of Commerce indicated their organizations’ opposition to this legislation.
HB 2683 will now be considered by the Arizona Senate.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
