Post by Logan on Jun 5, 2016 11:02:56 GMT -6
HOT SPRINGS -- Gov. Asa Hutchinson said Friday that he plans to propose individual income-tax cuts for the Arkansas General Assembly to consider in the 2017 regular session.
The Republican governor said he would work with lawmakers during the next several months to determine how much in tax cuts that the state can afford and how the tax cuts would be applied.
In this year's fiscal legislative session, the General Assembly and Hutchinson enacted a budget that would distribute $5.33 billion in state general revenue in fiscal 2017 -- up from $5.19 billion in fiscal 2016 -- with most of the general-revenue increase of $142.7 million targeted for the Department of Human Services and public schools.
The general-revenue budget factors in nearly $101 million in individual income-tax cuts enacted by the 2015 Legislature and Hutchinson.
Read more: www.arkansasonline.com/news/2016/jun/04/governor-to-seek-income-tax-cuts-201606-1/?f=news-politics
The Republican governor said he would work with lawmakers during the next several months to determine how much in tax cuts that the state can afford and how the tax cuts would be applied.
In this year's fiscal legislative session, the General Assembly and Hutchinson enacted a budget that would distribute $5.33 billion in state general revenue in fiscal 2017 -- up from $5.19 billion in fiscal 2016 -- with most of the general-revenue increase of $142.7 million targeted for the Department of Human Services and public schools.
The general-revenue budget factors in nearly $101 million in individual income-tax cuts enacted by the 2015 Legislature and Hutchinson.
Read more: www.arkansasonline.com/news/2016/jun/04/governor-to-seek-income-tax-cuts-201606-1/?f=news-politics