Wednesday, Governor Asa Hutchinson signed into law the $50 million tax cut he laid out as a part of his package for the 2017 legislative session.
The new tax cut represents Governor Hutchinson’s second round of reductions to the state income tax. While Hutchinson’s first tax cut targeted middle income levels, his second round of cuts focuses on the state’s lower income levels by providing tax relief to Arkansans who earn less than $21,000 annually.
Governor Hutchinson issued the following statement:
“I appreciate the legislature’s overwhelming bipartisan support for my $50 million tax cut, and I am proud to be able to sign this bill into law today. With today’s actions, we will have provided $150 million in substantive income tax relief to nearly 1.3 million Arkansans in the past year. In fact, 90% of the state’s individual income taxpayers will have benefited from substantive tax relief legislation since I took office in 2015.”
Read more at ArkansasMatters.com….