Beebe: Problem With Tax Cuts' Effective Dates
Gov. Mike Beebe says tax cuts being considered by Arkansas lawmakers would need to take effect later than proposed in order for them to be funded by savings from a proposed expansion of health insurance coverage.
Beebe told reporters Wednesday that a problem with the capital gains and income tax cuts backed by a House panel is they'd take effect before the fiscal year that begins July 1, 2014.
That's when Arkansas would see savings from the insurance proposal. Lawmakers are considering a proposal that would use federal funds to purchase private insurance for low-income residents newly eligible for Medicaid under the health care law.
Beebe also said he prefers a competing income tax cut proposal by Democratic Rep. Warwick Sabin to the one approved by the panel Tuesday.