Governor Unveils Grocery Tax Cut that Would Trim $253 Million from Budget - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Governor Unveils Grocery Tax Cut that Would Trim $253 Million from Budget

JANUARY 17, 2007 - Posted at 11:06 a.m. CST

 

LITTLE ROCK (AP) - Gov. Mike Beebe today provided details of his proposed budget. Beebe proposes a grocery-tax cut that would trim $253 million from Arkansas' budget over the next two years, including $174 million from the state general revenue fund that supports the everyday workings of state government.

Budget figures released at a meeting of the Joint Budget Committee did not address how to spend a $843 million surplus the state expects to have at the end of the current fiscal year. The grocery tax cut makes up the bulk of a proposed $289  million-dollar tax reduction.

Beebe's budget figures addressed the grocery-tax cut's impact on general revenues. The state's chief fiscal officer, Richard Weiss, says that when Arkansas trust funds and earmarked revenues -- such as those for schools -- are added, the grocery tax cut would trim $253 million dollars in fiscal years 2008 and 2009.

Beebe's budget proposes increasing money for the state's public schools by $81 million in fiscal year 2008 and $121million the following year.

Weiss says the figure includes Beebe's proposed $19 million in school funding and $40 million for expanded preschool programs -- exceeding levels set by legislators previously.

The budget also would increase college funding by $64 million dollars for fiscal year 2008 and $93 million in fiscal year 2009. It the highest proposed increase in years.

(Copyright 2007 by The Associated Press.  All Rights Reserved.)

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Flooding reported in Thayer area

    Flooding reported in Thayer area

    Wednesday, July 18 2018 10:51 PM EDT2018-07-19 02:51:11 GMT
    Wednesday, July 18 2018 11:32 PM EDT2018-07-19 03:32:29 GMT
    (Source: Officer Bryant with Thayer PD)(Source: Officer Bryant with Thayer PD)

    Heavy rains on Wednesday have caused problems in a park in southeast Missouri, officials said Wednesday night. 

    Heavy rains on Wednesday have caused problems in a park in southeast Missouri, officials said Wednesday night. 

  • Batesville School District to arm staff members

    Batesville School District to arm staff members

    Wednesday, July 18 2018 10:11 PM EDT2018-07-19 02:11:14 GMT
    Wednesday, July 18 2018 11:19 PM EDT2018-07-19 03:19:02 GMT
    (Source: KARK)(Source: KARK)

    In an effort to ensure the safety of students, faculty, and staff, the Batesville School District will allow staff members to carry guns during the upcoming school year.

    In an effort to ensure the safety of students, faculty, and staff, the Batesville School District will allow staff members to carry guns during the upcoming school year.

  • JPD investigates allegations against the Salvation Army

    JPD investigates allegations against the Salvation Army

    Wednesday, July 18 2018 11:10 PM EDT2018-07-19 03:10:58 GMT
    Source: KAITSource: KAIT

    Jonesboro police are investigating the Salvation Army after allegations of misappropriation of funds by an employee.

    Jonesboro police are investigating the Salvation Army after allegations of misappropriation of funds by an employee.

Powered by Frankly