Arkansas’ State Senate discussing tax cuts during special session
LITTLE ROCK, Ark. (KY3) - A final vote on tax cuts will likely happen in Arkansas’ State Senate Chamber on Wednesday. House members will address it after the vote.
Governor Sanders proposed reducing personal income taxes to four point four percent and corporate income taxes to four point eight percent. Her request also includes offering a one-time tax relief of $150 for taxpayers making less than $90,000. If approved, the personal income tax rate will have dropped by half a point since April.
“So you’re talking about relatively small tax cuts,” said economist Jeff Cooperstein. “On $1,000, that’s $3. If you are talking about the individual income tax cuts, and it’s $2 on $1,000 if you are talking about the corporate income tax cut.”
The special session also includes changes to the Freedom of Information Act and a ban on vaccine mandates for state employees.
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