LITTLE ROCK — Arkansas legislative leaders say they're prepared to move quickly on Gov. Asa Hutchinson's plan to reduce income taxes for the middle class, and want to hold off on any other proposed cuts until later in the session.
House Revenue and Taxation Committee Chairman Joe Jett told members of the panel to be ready for the Republican governor's cut to come before them as soon as next week. The Democrat from Success said he's likely to support the proposal, but wants more details on how Hutchinson plans to make up for the loss in revenue.
Hutchinson's proposal would cut income taxes 1 percent for those making between $21,000 and $75,000 annually. It is expected to cost the state $33.7 million in the coming fiscal year, and $102.7 million the following year.
Read Friday's Arkansas Democrat-Gazette for full details.
