With a strong state economy getting stronger by the day, Arkansas looks to be okay financially. Our state is doing quite well, budget-ly speaking. But next year Arkansas power brokers might have to figure out how to use several more revenue streams, and with all that money, we'd urge lawmakers: Prepare now.
Where's all this money going to come from? The answer comes from a couple of Supreme Court rulings earlier this year and other possibilities on which We the People have just voted.
Earlier this year the U.S. Supreme Court handed down a ruling that allows states to collect online sales taxes. Our Legislature needs to set up a system for collecting online sales tax and it's important for our lawmakers to be planning on that before they convene in Little Rock next year.
Other sources of tax revenue include sales of "medical" marijuana, assuming it actually becomes available for purchase next year like we keep hearing it will, and whatever taxes come from those four casino licenses Arkansans approved last week.
That's three new possible sources of tax revenue Arkansas has the potential to collect, and we'd urge our betters in the Ledge to think long and hard about where that money should go.
If you've picked up a newspaper in the last couple of years, you'll recall some lawmakers have gotten into trouble for what could be called, uh, "mishandling of taxpayer money." We trust our lawmakers with a great deal, not the least of which is spending the money we give them.
At the top of our wish list for one of these revenue streams would be highway funding. It goes without saying our friends at the Arkansas Department of Transportation could use a little more cash to maintain all those state roads and bridges we drive over every day. Have you taken I-30 from Arkadelphia to Hope lately? It's a cheese grater.
We the People could put more funding toward teacher pay. Our governor has pitched a plan to increase their salaries. That money has to come from somewhere. And how about doubling, or even tripling, merit pay given to the best schools and the schools that make the most improvement?
We're still not in favor of casinos, but now that Arkansans have approved them, that tax revenue should be spent wisely. How about putting some of that tax money toward expanding mental health care across our rural state? Gov. Hutchinson has done a wonderful job of working to bring crisis stabilization units to different regions of Arkansas. Now maybe we could put units in more rural areas that have suffering individuals but little money to help them.
Here's another idea: More tax cuts. While the economy is going ga-ga, and the money is rolling in, let's make this such a business-friendly state that by the time the next downturn comes around, Arkansas will be in much better position to handle it.
There are a lot of options on the table, and when it comes to spending tax money, surely there's no shortage of people raising their hands to claim it for this cause or that. This is why we hope our lawmakers are making plans now. We want them to think long and hard about these new potential revenue streams and where they'll end up.
Editorial on 11/14/2018