Income tax cut bills roll through Arkansas House and Senate; steel plant incentive also meets approval

The Arkansas House of Representatives and Senate on Wednesday handily approved identical income tax cut bills that state officials estimate will eventually provide nearly $500 million a year in tax relief for Arkansans.

The House and Senate also overwhelmingly approved identical bills that would provide recycling tax credits aimed at getting a proposed U.S. Steel expansion in Mississippi County.

Arkansas is competing with Alabama and Mississippi for a proposed $3 billion expansion that would create 900 jobs, the sponsors of the bills said.

The legislative action came on the second day of a special legislative session called by Republican Gov. Asa Hutchinson primarily to enact what potentially would be the largest tax cut in the state's history. Legislative leaders hope to wrap up the special session today, but some lawmakers want to extend the session to consider other bills not on the governor's agenda.