Arkansas Lawmakers Give Final Approval To Cutting Takes

Feb 5, 2015

The Arkansas Senate has given final approval to Gov. Asa Hutchinson's proposal to cut income taxes for the middle class by $102 million and to roll back part of a 2013 capital gains tax break.

By a 31-0 vote, the Senate on Thursday agreed to an amendment to the governor's tax cut proposal. The measure now heads to Hutchinson's desk for his signature.

The proposal calls for cutting income taxes by 1 percentage point for those making between $21,000 and $75,000 a year and takes effect Jan. 1. Hutchinson, a Republican sworn in last month, campaigned on the tax cut proposal and has called it his top priority this legislative session.

The bill also reduces a capital gains tax break lawmakers approved two years ago.