Brewer faces a deadline today to sign or veto the bills. They put in place tax breaks or credits totaling more than $90 million a year by 2015. They include the automatic adjustment of tax brackets for inflation that will cost about $11 million a year and an increased research tax credit worth $10 million.
The biggest cuts lift a cap in the amount of depreciation small and medium-sized businesses can claim instantly on new equipment. That provision is expected to save businesses nearly $71 million this year.
The bills were among a large number of tax cut proposals introduced this year. Only a handful made it to the governor's desk.