House Panel Adopts Tax Cut Plan

State Capitol

A House panel on Tuesday gave a “do pass” recommendation for Gov. Asa Hutchinson’s $97 million tax cut proposal during an hour-long debate that centered on whether the measure was a tax break for the wealthy.

After a quick voice vote and roll call on Senate Bill 211, the House Revenue and Taxation Committee easily adopted the third phase of Hutchinson’s multi-year tax cut package by a count of 15-2, with three lawmakers abstaining.

In introducing SB 211 to the panel he oversees, Rep. Joe Jett, R-Success, told committee members Hutchinson’s so-called “5.9” tax plan would allow Arkansas to compete for more jobs by lowering the state’s marginal tax rate from 6.9% to 5.9% over the next two years.     MORE

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