The Common Sense Institute (CSI) Arizona has launched its latest “Job Killers” report, offering a detailed analysis of the significant impact that proposed legislation would have on Arizona’s economy and job market.
This comprehensive report crafted in partnership with the Arizona Chamber Foundation analyzes 72 bills introduced during the 2024 legislative session that would have significantly harmed the state’s business climate and economic growth if enacted. Of those, 20 would have quantifiable impacts on the Arizona economy based on experience with similar legislation elsewhere; the other 52 measures would have costs, but are so novel that their impacts could not be precisely estimated.
The report emphasizes the negative consequences of these bills, which include substantial tax increases, new legal and administrative burdens, labor cost hikes, and environmental regulations that could cripple Arizona’s economic progress.
“The findings in this report serve as a warning,” stated Glenn Farley, CSI Director of Policy and Research. “Enacting just a few of these proposals could dramatically alter Arizona’s growth trajectory. It’s crucial that we remain vigilant and prioritize policies that foster economic prosperity and stability.”
“The latest ‘Job Killers’ report is another important reminder of the significant dangers posed by misguided, bad-for-business legislation,” said Danny Seiden, president and CEO of the Arizona Chamber of Commerce & Industry. “Arizona’s future depends on our ability to resist harmful regulations and continue fostering a business-friendly environment that encourages innovation, investment, and job creation. We hope lawmakers will use this analysis and the experience of other states as a cautionary tale when taking up similar measures in future sessions.”
Key Findings:
- $37.2 billion+: Estimated economic if all potential “job killers” considered this year were enacted. Because of the narrow scope of the econometric analysis, this is a conservative estimate.
- 540,000 jobs: Potential jobs lost due to that $37.2+ billion in new costs and burdens that could be imposed by these rules and regulations.
- 16 enacted “job killers”: Of the 72 bills tracked in this report, Colorado has enacted just a slice over the past five years. But growth there has slowed dramatically since.
- $9.5 billion: Economic growth Arizona would have missed out on over the past five years if it had followed Colorado’s policy direction instead of following a pro-growth, light touch regulatory approach.
