DALLAS — Phoenix and Maricopa County are slashing expenditures by reducing services and eliminating employees after a sudden, steep, and continuing decline in sales tax revenues due to a slowdown in the Arizona housing market.

The Phoenix City Council will meet tomorrow to consider accelerating the fiscal 2009 budget process by three months to realize additional savings through earlier eliminations of authorized positions. A revenue shortfall estimated at $53.5 million in November now appears to have grown to at least $70.8 million.

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