May 9, 2003
Posted at: 1:57 p.m. CDT
LITTLE ROCK, Ark. -- The House and Senate Friday afternoon ended the weeklong special session after achieving their goals of passing a budget and covering a revenue shortfall.
Governor Huckabee praised legislators for arriving at an agreement to raise taxes so state services would not have to be cut.
Revenue projections showed the state coming up about $110 million short each of the next two years. So, legislators raised the state cigarette tax by 25 cents a pack, and the tax on other tobacco products by seven percent.
They also agreed to a three-percent surcharge on the state income tax. Huckabee yesterday signed the bill increasing taxes.