State's Chief Financial Officer says Arkansas Can't Afford More Tax Cuts - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

State's Chief Financial Officer says Arkansas Can't Afford More Tax Cuts

MARCH 6, 2007 - Posted at 3:26 p.m. CST

 

LITTLE ROCK, AR - Arkansas' chief fiscal officer told lawmakers today that the state cannot afford any more tax cuts over the next two years.

Arkansas Dept. of Finance and Administration Director Richard Weiss detailed to the Joint Budget Committee changes in Governor Beebe's budget since he first presented it to lawmakers in January.

Weiss says $40.6 million was cut from Beebe's original budget proposal to pay for additional tax cuts.  Those cuts include a proposal to raise the minimum taxable income level and a reduction the sales tax manufacturers pay on utilities.

So far this year, legislators have agreed to cut in half the state's sales tax on groceries from six percent to three percent, costing Arkansas $121 million in the next fiscal year.  Yesterday, Beebe signed an income tax reduction that will reduce state revenues by $14 million next year.

(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>>

  • Memorial Day event to help veterans suffering with PTSD

    Memorial Day event to help veterans suffering with PTSD

    Sunday, May 27 2018 4:58 PM EDT2018-05-27 20:58:44 GMT
    Sunday, May 27 2018 5:32 PM EDT2018-05-27 21:32:27 GMT
    SPC. Steven Tyler Redmon served his country in Afghanistan. (Source: Darrin Moore)SPC. Steven Tyler Redmon served his country in Afghanistan. (Source: Darrin Moore)
    SPC. Steven Tyler Redmon served his country in Afghanistan. (Source: Darrin Moore)SPC. Steven Tyler Redmon served his country in Afghanistan. (Source: Darrin Moore)

    SPC. Steven Tyler Redmon would have turned 26 years old on May 28, 2018. His mother will pass out cupcakes at the fifth annual memorial roping event to remember him. The benefit raises money to provide for mental health counseling at the ASU Beck PRIDE Center for America's Wounded Veterans. 

    SPC. Steven Tyler Redmon would have turned 26 years old on May 28, 2018. His mother will pass out cupcakes at the fifth annual memorial roping event to remember him. The benefit raises money to provide for mental health counseling at the ASU Beck PRIDE Center for America's Wounded Veterans. 

  • Memphis organization makes reading food menus easier for the visually impaired

    Memphis organization makes reading food menus easier for the visually impaired

    Sunday, May 27 2018 2:34 PM EDT2018-05-27 18:34:13 GMT
    (Source: WMC Action News 5)(Source: WMC Action News 5)

    Memphis is a city where food is major ingredient of the culture. 

    Memphis is a city where food is major ingredient of the culture. 

  • "End of the line" for Jonesboro paraprofessional announcing retirement

    "End of the line" for Jonesboro paraprofessional announcing retirement

    Saturday, May 26 2018 4:58 PM EDT2018-05-26 20:58:36 GMT
    Sunday, May 27 2018 1:04 PM EDT2018-05-27 17:04:22 GMT
    Willene Downs working the car-rider line at VPA Magnet School. (Source: KAIT-TV)Willene Downs working the car-rider line at VPA Magnet School. (Source: KAIT-TV)

    Willene Downs leaves behind a legacy of laughter, hugs on the playground, "sparkly hair" and bold instruction for the car rider lines.

    Willene Downs leaves behind a legacy of laughter, hugs on the playground, "sparkly hair" and bold instruction for the car rider lines.

Powered by Frankly