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State Tax Policy
Tue February 26, 2013
House Speaker Makes Committee Appearances, Calls For Tax Cuts
Arkansas Speaker of the House Davy Carter is calling on lawmakers to make $150 million in tax cuts this session.
The Republican from Cabot visited the House Judiciary, Public Health and Revenue and Tax Committees Tuesday morning reminding each committee of the time frame of the legislative session.
In the House Revenue and Tax Committee he told lawmakers he was counting on them to wade through the over $2 billion in tax cuts they have before them in a timely manner. He said not all tax cuts will be possible.
“Mr. Chairman, I’m asking that the committee begin deliberations on your tax cut package in the total amount of $150 million,” Carter told the committee.
Governor Mike Beebe told reporters that lawmakers would have to justify any cuts.
“We can’t even afford my number one tax cut right now, immediately, which is the grocery tax cut, and still meet these obligations, so if they’re going to cut anymore taxes, they have an obligation to say who they’re taking it from,” Beebe said.
Speaker Carter also proposed cuts to the state’s capital gains tax. Capital gains taxes are usually levied on the sale of investments.
“At the end of the day, the folks that are going to be paying for this are the job creators in this state and this country and we’re going to at least give that due consideration,” Carter told reporters.
The Governor said he is working with the speaker on those types of tax cuts.
In the House Public Health committee, Carter asked lawmakers to begin to make decisions regarding whether the state will expand its Medicaid program with the Affordable Care Act.