Arkansas Senate President Hopes Deal Soon On Tax Cuts
Arkansas Senate President Michael Lamoureux says he hopes to reach agreement by the end of the week with Gov. Mike Beebe and House leaders on a tax cut package.
Lamoureux told reporters Wednesday that legislative leaders are still discussing what would be in that tax cut agreement - but he hoped to have a deal soon. House Speaker Davy Carter has called on lawmakers to approve $150 million in tax cuts, while Lamoureux has said he thinks $100 million in cuts is more likely.
Beebe has told lawmakers they'll have to identify how any tax cuts could be funded. Beebe's proposal to cut the grocery tax would only take effect if bond obligations and desegregation payments to Pulaski County school districts decrease by $35 million over a six month period.