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Arkansas Lawmakers Approve $736 Million in Relief For Taxpayers

Aug. 10, 2022, 6:26 PM

Arkansas will cut burdens on individual and business taxpayers by $736 million over three years under legislation that accelerates an earlier tax-cutting measure and grants $150 tax credits to low- and middle-income filers.

The House and the Senate approved identical bills (H.B. 1002/S.B. 1) Wednesday implementing a tax plan proposed by Gov. Asa Hutchinson (R). Last month Hutchinson ordered lawmakers to meet this week in an extraordinary legislative session to enact tax reductions in response to the state’s $1.6 billion budget surplus for fiscal year 2022. The House version won approval by a vote of 81-14 ...