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Wed February 5, 2014
Mike Ross Vows To Cut Income Taxes If Elected Arkansas Governor
Democratic gubernatorial hopeful Mike Ross is calling for gradually reducing Arkansas' income taxes, setting up a months-long debate with his chief Republican rival for the state's top office over their competing tax cut plans.
Ross on Wednesday unveiled a plan to adjust the state's income tax brackets to reduce the rate for thousands of taxpayers. He said his plan would eventually cost the state nearly $575 million.
The former congressman didn't give a timeline for cutting the taxes, saying he would do it as the state could afford the revenue loss.
The announcement follows Republican gubernatorial hopeful Asa Hutchinson's proposal to cut income taxes over time. Hutchinson, also a former congressman, is one of three Republicans seeking the GOP gubernatorial nomination.
Ross is the only Democratic candidate.