Arkansas lawmakers have given final approval to cutting the state's taxes on taxes and capital gains, part of a package of reductions that is expected to eventually cost the state more than $140 million a year.
The House on Friday approved four tax cut measures that also include breaks for volunteer firefighters and farmers.
The total tax cut package is estimated to cost the state $10.7 million in the coming fiscal year and will eventually cost more than $140 million annually.
Arkansas lawmakers are considering boosting funding for public schools and Medicaid while also giving state employees a 2 percent cost-of-living raise under legislation outlining the state's proposed $4.9 billion budget for the coming year.
Legislators were handed copies Thursday night of the proposed Revenue Stabilization Act, the budget bill for the state. The measure prioritizes spending based on expected revenue and is scheduled to go before the Joint Budget Committee Friday.
A proposed constitutional amendment that would, among other things, prohibit state legislators and constitutional officers from accepting gifts from lobbyists is closer to being on the 2014 ballot after passing the Senate Thursday.