Arkansas Governor Sets Another Tax-Cutting Special Session

Arkansas Gov. Sarah Huckabee Sanders aims to cut her state’s income tax rates for the third time in a little more than a year during a special legislative session she has called to begin June 17.

• Under the Republican governor’s Tuesday proposal, the state’s top individual income tax rate would drop to 3.9% from the current 4.4%, starting this year. The top corporate tax rate would also drop one-half of a percentage point, to 4.3%.
• The plan also would raise the homestead tax credit to $500 from $425, effective for assessment years beginning in this year.
• The ...