Arkansas House Approves Governor's Tax Cut Proposal

Jan 29, 2015

The Arkansas House has approved Gov. Asa Hutchinson's proposal to cut income taxes for the middle class by $102 million a year and repeal part of a 2013 capital gains tax break.

By a 95-2 vote, the House approved the proposal to cut income taxes by 1 percent for those making between $21,000 and $75,000 a year. The proposal heads back to the Senate for a final vote.

Hutchinson, a Republican who was sworn in earlier this month, campaigned on the tax cut proposal and called it his priority this session. The measure calls for repealing a portion of a tax cut on capital gains lawmakers approved two years ago.

A House panel this week scaled back the bill, which initially called for a full repeal of the tax break.