Arkansas Governor Proposes $50 Million Tax Cut In 2 Years
Gov. Asa Hutchinson is proposing a $50 million cut in Arkansas' income tax in two years, warning fellow Republicans that he'll oppose a push for further reductions unless they're offset by closing tax exemptions or cuts elsewhere in the state's budget.
Hutchinson on Wednesday detailed his proposed $5.4 billion budget proposal to lawmakers the day after voters approved legalizing medical marijuana, a move the governor has said will cost agencies millions to enforce. Lawmakers last year approved Hutchinson's proposed $102 million cut in the state's income tax. Hutchinson's tax cut proposal wouldn't take effect until the fiscal year that begins July 1, 2018.
Hutchinson's proposal calls for increases in funding for public schools, Medicaid, prisons and the state's foster care system.