(AP) – The House Revenue and Taxation Committee approved
House Bill 1162 Thursday, extending tax relief to military veterans who retire in Arkansas.
Despite concerns about new taxes on digital downloads and changes in the tax on soft drinks and candy, the panel advanced the $13 million tax cut on a voice vote.
Local District 99 Representative Jack Fortner is one of the sponsors of the bill.
Listen:
right-click to download mp3
Local Senators Scott Flippo and Missy Irvin along with State Representatives Scott Baltz and Nelda Speaks also sponsored the bill.
House Bill 1162 initially took away a mobile home sales exemption to cover the cost of the tax cut. The newest version of the bill ends a sales tax exemption on digital products and computer software delivered electronically.
Fortner says although there may be some pushback, veterans should be a priority.
Listen:
Some legislators say the change could be unfair to college students who buy textbooks online and the taxes should have a “sunset” clause.
Fortner goes on to say tax cuts are a balancing act and hard decisions have to be made, however veterans deserve the cut.
WebReadyTM Powered by WireReady® NSI