LITTLE ROCK, Ark. (AP) Arkansas’ Republican governor has reworked his proposal to cut the state’s top income tax rate, unveiling a $97 million plan Senate leaders say they plan to take up next week.Gov. Asa Hutchinson on Wednesday said his latest proposal would cut the state’s
top marginal income tax rate from 6.9 percent to 5.9 percent over the next two
years. Hutchinson had initially backed a proposal that would have cost the state
$192 million once fully implemented.
Hutchinson had reworked his proposal after finance officials said it would have
raised income taxes for some Arkansans. Hutchinson says that under the latest
proposal no taxpayers would see a net increase in taxes paid.
Hutchinson was re-elected in November after campaigning on a pledge to push for
more tax cuts.
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