Arizona residents will go to the polls May 18 to decide on a temporary 1% increase in the state sales tax. The Senate narrowly approved the election on a 16-to-12 vote last week, and  the House subsequently passed by a margin of 34 to 25.

Gov. Jan Brewer has been asking for the tax hike to help deal with an ever-growing state revenue shortfall since she became governor in early 2009.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.