by Daniel Stefanski | Feb 17, 2024 | News
By Daniel Stefanski |
Arizona Republicans are going to court yet again.
On Monday, the Arizona State Senate Republican Caucus announced that President Warren Petersen and House Speaker Ben Toma had filed a lawsuit against the Biden Administration’s “unlawful, dictator-style land grab last summer in northern Arizona.” The challenge, which “attempts to reverse Biden’s confiscation of nearly a million acres of land within Coconino and Mohave Counties,” was launched in the U.S. District Court for the District of Arizona.
Back in August 2023, President Joe Biden visited Arizona to establish the Baaj Nwaavjo I’tah Kukveni – Ancestral Footprints of the Grand Canyon National Monument. In his signed proclamation, Biden stated, “Protecting the areas to the northeast, northwest, and south of the Grand Canyon will preserve an important spiritual, cultural, prehistoric, and historic legacy; maintain a diverse array of natural and scientific resources; and help ensure that the prehistoric, historic, and scientific value of the areas endures for the benefit of all Americans.”
“This federal confiscation promises to wreak havoc on our local and state economies, jeopardize the livelihoods of our citizens, and compromise national security, all in an attempt to score cheap political points with radical environmentalists,” said President Petersen. “Biden’s maneuver is incredibly disingenuous, as it has nothing to do with protecting actual artifacts. Instead, it aims to halt all mining, ranching, and other local uses of federal lands that are critical to our energy independence from adversary foreign nations, our food supply, and the strength of our economy.”
Petersen highlighted the lack of defense against Biden’s executive overreach from the state’s Democrat attorney general, which has been a common refrain from legislative Republicans over the past few months. He said, “Needless to say, I’m incredibly disappointed our Attorney General has once again failed to carry out the duties of her office in defending our state against this reckless federal overreach and is instead showing her complicity with Biden’s extremist agenda. Nonetheless, we look forward to prevailing in court and for the president’s abuse of power to be reined in.”
Arizona Treasurer Kimberly Yee, another Republican, also joined in the lawsuit. According to a press release sent from her office, Yee signed on “as she is responsible for the receipt and investment of all revenue from Arizona state trust land.”
In a statement that accompanied her announcement, Yee said, “We must protect the value of state trust lands for the future of Arizona. This unlawful land grab by the Biden Administration will directly affect Arizona’s economy and the livelihoods of our citizens. The Federal Government needs to compensate the permanent school fund for the tens of thousands of trust land parcels left economically isolated by the stroke of the pen by President Biden. This big hand of government will hurt our K-12 education beneficiaries the most.”
Yee added, “The suit affirms that Congress passed the Antiquities Act to protect just that: antiquities. It did not pass the law to allow the Biden Administration to declare every inch of federal land a monument.”
Mohave County and the towns of Colorado City and Fredonia also joined the Arizona Legislature and the Treasurer’s Office in the lawsuit.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Corinne Murdock | Jan 21, 2024 | Economy, Education, News
By Corinne Murdock |
Gov. Katie Hobbs’ proposed education funding plan is “dangerous and unsustainable” according to State Treasurer Kimberly Yee.
Hobbs’ plan, if passed by the state legislature, would renew Proposition 123 for another decade and increase the state land trust fund to nearly nine percent. In a statement on Tuesday, the treasurer accused the governor of irresponsible mismanagement of taxpayer funds amid record inflation.
“Governor Hobbs wants to raid the land trust to cover for her mismanagement of the state budget and overzealous spending plans in an ever-increasing inflationary environment,” said Yee.
Yee warned that Hobbs’ plan would violate the Enabling Act, the terms under which Arizona achieved statehood in 1910. She recommended a four to five percent distribution, declaring Hobbs’ vision “unfeasible” based on past performance.
“My office has not reported a 10-year return over 8.9 percent in nearly two years. Over the span of the last 10 years, only 32 months have had a 10-year return over 8.9 percent,” said Yee.
That’s something the governor acknowledged in her announcement of her plan: the average 10-year annualized return amounts to just over seven percent.
Proposition 123, the Arizona Education Finance Amendment, was a voter-approved 2016 constitutional amendment to increase education funding by $3.5 billion over a decade using monies from the general fund and state land trust fund. Yee oversees the land trust fund.
Although Yee declared the funding plan wasn’t sustainable, Hobbs claimed that there were ample funds going unused.
“[We shouldn’t] let billions of dollars accrue in a bank account and do nothing to address our immediate needs,” said Hobbs.
Hobbs marketed her renewal plan as a means of increasing education funding without raising taxes.
“The choice is clear: we can give our children a quality education or let billions of dollars stand idle without addressing our immediate needs,” said Hobbs.
Under the governor’s plan based on a decade-long average distribution, 2.5 percent will continue general school funding ($257 million), 4.4 percent will raise educator compensation ($347 million), 1.5 percent will increase support staff compensation ($118 million), and .5 percent will invest in school capital for safety and security ($39 million).
State Sen. Christine Marsh (D-LD04) is sponsoring the bill with the governor’s plan. Marsh also sits on the Senate Education Committee.
“Renewing and expanding this vital funding source for our schools is crucial to ensuring Arizona’s students receive the high quality education they deserve,” said Marsh.
Corinne Murdock is a reporter for AZ Free News. Follow her latest on Twitter, or email tips to corinne@azfreenews.com.
by Daniel Stefanski | Jan 15, 2024 | News
By Daniel Stefanski |
Arizona’s State Treasurer is helping children to prioritize saving in the new year.
Earlier this week, Arizona State Treasurer, Kimberly Yee, released “seven practical tips to help parents and caregivers teach children how to save and realize goals for the future instead of focusing on what they think they need now.”
The seven tips were as follows:
1. Walk the Talk: Talk about what you are saving for and what sacrifices you make for retirement, vacations, their college, etc. and demonstrate that – take them with you to the bank when you make a deposit or show them how you do it on your phone or laptop for online banking.
2. Match It: Reward good savings habits by matching savings and further encouraging kids to delay gratification by saving for what they really want.
3. Make it Fun: Turn conversations about saving and college into games and crafts to keep it hands-on. Painting your own piggy bank would be the perfect time to talk about dream jobs and how to prepare and save to get there.
4. Jump Start College/Career Savings: Give children a boost with saving for their future education by setting-up a tax-deductible AZ529 Education Savings Plan. Contributions from parents, grandparents, relatives and family friends provide a jump-start for their littlest loved ones and inspires them to contribute as well.
5. Hands On Saving: Provide an allowance with rules attached for saving and spending, but make sure they earn the allowance – don’t just give them money for no reason.
6. Let them Fail: Allowing kids/teens to make a few minor financial failures when they are young can help them avoid major failures as they become adults. Missing a phone payment and losing their phone for a week would be something a teen won’t soon forget.
7. Celebrate Success: Track results and share progress with your child to help motivate them in their studies and savings and know your expectations for their future. Make a chart and when they reach a milestone, find a way to celebrate that doesn’t involve spending time together instead of money.
Yee serves as the Chairwoman of the AZ529 Plan Advisory Committee. According to its website, this committee “assists the Treasurer’s Office in promoting and raising awareness of the AZ529 Plan in accordance with A.R.S. § 41-179.” The Arizona 529 Plan “is a college savings plan named after Section 529 of the Internal Revenue Code sponsored by the State of Arizona,” and “is designed to provide a parent, grandparent, or anyone else an opportunity to save for a child’s educational dreams within a tax-deferred savings vehicle.”
Late last year, the “X” account for the Arizona Education Savings Plan announced that “under the leadership of Arizona Treasurer Kimberly Yee, 33,632 529 accounts have been opened in the last 37 months,” and that “assets are up 16.6% in that same time frame to $1.89 billion.”
In 2023, the Arizona Education Savings Plan was upgraded to a ‘silver’ rating by Morningstar, which “reflected a superior investment team and/or investment process that should benefit the participants.”
Treasurer Yee is currently serving her second year of her second term in this statewide office.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Dec 14, 2023 | News
By Daniel Stefanski |
Last month, Treasurer Kimberly Yee shared that her office had “increased Israel bond holdings by $5 million.” The announcement from the Arizona Treasurer’s Office came about a month after Yee promised the increased commitment in the days following the horrific terrorist attack from Hamas in southern Israel on October 7.
“As Arizona’s Treasurer, I remain committed to supporting the State of Israel not only through my words, but through my actions. This $5 million investment in Israel supports Israel’s economic recovery while providing our taxpayers reliable returns,” said Arizona Treasurer Kimberly Yee. “Israel has been a longtime friend and ally of Arizona and the United States. We must stand resolute with Israel.”
According to the Arizona Treasurer’s Office, “Israel bonds serve as an investment option for individuals, institutions and nations worldwide to support the economic growth and stability of the State of Israel. Investments in Israeli bonds offer both reliable financial returns and contribute to Israel’s economic and strategic well-being.”
“The State of Arizona’s support for Israel is remarkable, and it aligns with the immediate response to the war in Israel across many U.S. states during this crucial period for the Jewish state,” said Israel Bonds President and CEO Dani Naveh. “At a time when Israel is under attack, investments in Israel bonds represent the most powerful and direct way to stand with the State of Israel and its people. This message from the people of Arizona to the people of Israel is unmistakable: You are not alone.”
The second-term Republican Treasurer has been a staunch supporter of Israel throughout her time in public service, using her platform and her office to stand with the American ally to the full extent of her authority. During her first term, Yee led the efforts to become “the first state in the country to enforce Anti-BDS laws (Boycotts of Israel) by divesting $143 million from Unilever, the parent company of Ben & Jerry’s, in response to the company ending distribution of its products in parts of Israel.”
In 2022, Treasurer Yee also notified Morningstar Inc. that they were at risk of being placed on the Arizona Treasury’s prohibited investment list for violating Arizona law by actively boycotting the State of Israel. Yee said, “It is my duty to defend Arizona’s anti-BDS law and I will ensure that Arizona does not do business with companies that are attempting to undermine Israel’s economy.”
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Dec 8, 2023 | Education, News
By Daniel Stefanski |
More Arizonans are saving for their children’s education and benefiting from the stewardship of the state’s treasurer.
This week, the “X” account for the Arizona Education Savings Plan announced that “under the leadership of Arizona Treasurer Kimberly Yee, 33,632 529 accounts have been opened in the last 37 months,” and that “assets are up 16.6% in that same time frame to $1.89 billion.”
Yee serves as the Chairwoman of the AZ529 Plan Advisory Committee. According to its website, this committee “assists the Treasurer’s Office in promoting and raising awareness of the AZ529 Plan in accordance with A.R.S. § 41-179.” The Arizona 529 Plan “is a college savings plan named after Section 529 of the Internal Revenue Code sponsored by the State of Arizona,” and “is designed to provide a parent, grandparent, or anyone else an opportunity to save for a child’s educational dreams within a tax-deferred savings vehicle.”
Last month, the Arizona Education Savings Plan was upgraded to a ‘silver’ rating by Morningstar, which “reflected a superior investment team and/or investment process that should benefit the participants.”
Joining Treasurer Yee on this advisory committee are the following appointees:
- Rural Community College District Representative: Keith Alexander, Special Assistant to the President for Community and Government Relations, Eastern Arizona College
- ABOR Public University Representative: Dr. James Rund, Senior Vice President for Educational Outreach and Student Services, Arizona State University
- Private Educational Institution Offering Advanced Degrees Representative: Brian Mueller, President, Grand Canyon University
- Private Vocational Training Institution Representative: David Eaker, Campus President, The Refrigeration School
- Apprenticeship Program Representative: Gary Schleuger, Vice President of State Government Affairs and Relations, University of Phoenix
- Private School or Organization offering K-12 Instruction Representative: Chris Schoenleb, Head of School, North Valley Christian Academy
- Teacher Representative: Karen Mensing, Technology Integration Facilitator, Paradise Valley Unified School District
- Tribal Representative: Honorable Shaandiin Parrish, Council Delegate, Navajo Nation
- Public Member: Maria Baier, Vice President of External Affairs, Great Hearts America
- Public Member: Christine Burton, Co-Founder, Burton Family Foundation
- Public Member Representing an Arizona-Based Nonprofit Organization: Susan Ciardullo, Executive Director, Life Long Learning Inc.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
