Arkansas Lawmakers Meet to Consider Income Tax Reduction Plan | Texarkana

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LITTLE ROCK, Ark. (AP) – Arkansas Legislature meets Tuesday to pass nearly $ 500 million income tax cut plan, but some lawmakers are expected to push for more measures, including a ban of abortion after its adoption in neighboring Texas.

House and Senate meet for a special session, Gov. Asa Hutchinson called for passing the proposed tax cut, which will cost $ 498 million when fully implemented in 2026. The proposal calls for cuts Arkansas personal income tax rate from 5.9% to 4.9%.

The Republican governor’s plan also includes corporate tax cuts and a low income tax credit.

Some GOP lawmakers are pushing the Legislature to take further action during the session, though Hutchinson urges them to stay focused on tax cuts.

If two-thirds of the House and Senate approve, the Legislature may extend the session for up to two weeks to consider proposals not on the session’s agenda. A GOP lawmaker has said he will push for a Texas-like abortion ban that is being considered by the U.S. Supreme Court.

Hutchinson said he hopes lawmakers will wait and see how the High Court rules on the Texas ban and other ongoing abortion cases.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


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