(AP) – Gov. Asa Hutchinson is proposing a $50 million income
tax cut for 657,000 low-income Arkansans along with a $13 million break for
military retirees that he says will be offset by repealing exemptions on
unemployment compensation, manufactured housing and soft drinks.
The Republican governor on Tuesday called for cutting income taxes in two
years for those making less than $21,000 a year. Hutchinson said under his
proposal about 120,000 residents in the lowest bracket won't pay any income
taxes at all.
Hutchinson faces a fight in the session that begins January with some fellow
Republicans pushing for deeper tax reductions that will take effect sooner.
Hutchinson said his proposal to exclude military retirement benefits from income
taxes will be paid for by repealing tax exemptions elsewhere.
tax cut for 657,000 low-income Arkansans along with a $13 million break for
military retirees that he says will be offset by repealing exemptions on
unemployment compensation, manufactured housing and soft drinks.
The Republican governor on Tuesday called for cutting income taxes in two
years for those making less than $21,000 a year. Hutchinson said under his
proposal about 120,000 residents in the lowest bracket won't pay any income
taxes at all.
Hutchinson faces a fight in the session that begins January with some fellow
Republicans pushing for deeper tax reductions that will take effect sooner.
Hutchinson said his proposal to exclude military retirement benefits from income
taxes will be paid for by repealing tax exemptions elsewhere.
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