Arkansas lawmakers OK massive tax cuts, adjourn session
3 years ago

Arkansas lawmakers OK massive tax cuts, adjourn session

Associated Press  

— Arkansas lawmakers on Thursday approved the largest tax cut in state history, adjourning a special session without taking up an abortion ban modeled after Texas’ or other measures some Republican lawmakers hoped to add to the agenda. For an individual who happens to be paying a small portion of taxes, percentage-wise they’re getting a larger cut in their taxes.” Hutchinson called the session once legislative leaders said there were more than enough votes to pass the tax cut package. Hutchinson, who is barred by term limits from seeking reelection next year, has successfully pushed for a series of income tax cuts since taking office in 2015. The Legislature approved several other items Hutchinson placed on the session’s agenda, including incentives to help lure a steel mill expansion to east Arkansas.

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Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it
1 month ago

Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it

Associated Press  

— Louisiana’s GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase, giving Gov. Lawmakers also redirected $280 million in vehicle sales tax funds from several major infrastructure projects for the next two years in order to help offset the income tax cut. Corporate tax cuts The state’s new corporate …

Louisiana House greenlights Gov. Jeff Landry’s tax cuts
1 month, 1 week ago

Louisiana House greenlights Gov. Jeff Landry’s tax cuts

Associated Press  

— Louisiana’s GOP-dominated House of Representatives on Tuesday overwhelmingly passed individual and corporate tax cuts, along with a constitutional amendment — all key provisions in Gov. Republican Rep. Julie Emerson, the bill’s sponsor, said the individual income tax cuts are necessary to spur economic growth, staunch outward migration and keep Louisiana competitive with nearby states like Florida and Texas which …

Louisiana lawmakers advance Gov. Jeff Landry’s tax cut bills
1 month, 2 weeks ago

Louisiana lawmakers advance Gov. Jeff Landry’s tax cut bills

Associated Press  

— Louisiana lawmakers advanced bills to flatten the state’s income tax rate and repeal the corporate franchise tax in a special legislative session focused on a sweeping tax reform package championed by Republican Gov. The legislative fiscal office’s former chief economist Greg Albrecht described the proposed income tax plan as “modestly progressive” compared to the existing tax code in a …

Arkansas governor signs income, property tax cuts into law
6 months ago

Arkansas governor signs income, property tax cuts into law

Associated Press  

Sarah Huckabee Sanders on Wednesday signed legislation cutting the state’s property and income taxes after lawmakers wrapped up a special session where they also approved legislation to keep the state’s hunting and fishing programs running. Sanders signed the measure cutting the state’s top corporate and individual income tax rates, and another raising the homestead property tax credit, hours after the …

Arkansas lawmakers advance tax-cut bills and try to stave off shutdown of hunting, fishing agency
6 months ago

Arkansas lawmakers advance tax-cut bills and try to stave off shutdown of hunting, fishing agency

Associated Press  

— Arkansas lawmakers on Monday advanced income and property tax cuts and a compromise proposal to avoid a shutdown of the state’s hunting and fishing programs. If approved, the income tax cuts would be third signed by Sanders, who has called for phasing out the income tax since she took office last year. Lawmakers had expected to take up tax …

Arkansas governor calls for special session on tax cuts and funds for hunting and fishing agency
6 months, 1 week ago

Arkansas governor calls for special session on tax cuts and funds for hunting and fishing agency

Associated Press  

Sarah Huckabee Sanders on Tuesday called a special legislative session to take up tax cuts and the budget for the agency overseeing hunting and fishing. The Republican governor said in a post on X that she’s calling for $500 million in income and $50 million in property tax cuts during the special session, scheduled to begin next week on Monday. …

Things to know when the Arkansas Legislature convenes to take up a budget and other issues
8 months, 2 weeks ago

Things to know when the Arkansas Legislature convenes to take up a budget and other issues

Associated Press  

— Arkansas lawmakers are convening at the Capitol and their top agenda item is taking up Gov. “As Governor, I’ve promised to Arkansans to limit the size and growth of government while still investing in areas of greatest need like education and public safety,” Sanders said in a statement. “My proposed budget accomplishes this with only a 1.76% increase over …

Georgia lawmakers approve income tax cuts for people and businesses
9 months ago

Georgia lawmakers approve income tax cuts for people and businesses

Associated Press  

ATLANTA — Income taxes for Georgia residents and businesses are set to fall after the state Senate gave final passage to a pair of tax cuts Wednesday. House Bill 1023, which passed 34-17, would decrease the corporate income tax rate to match that of individuals. But the only person who spoke against the cuts was Sen. Colton Moore, a Trenton …

Gov. Sarah Huckabee Sanders proposes carve-out of Arkansas public records law during tax cut session
1 year, 3 months ago

Gov. Sarah Huckabee Sanders proposes carve-out of Arkansas public records law during tax cut session

Associated Press  

Sarah Huckabee Sanders on Friday proposed shielding a broad range of records about her administration, travel and security from public release as she called for a special legislative session next week focusing on additional tax cuts. FOIA experts said the changes would severely weaken the 1967 law — signed by the state’s first Republican governor since Reconstruction — that protects …

Arkansas ends fiscal year with $1.1 billion surplus, state’s second largest
1 year, 5 months ago

Arkansas ends fiscal year with $1.1 billion surplus, state’s second largest

Associated Press  

— The fiscal year ended in Arkansas with a surplus of more than $1.1 billion, which is the state’s second largest, finance officials announced Wednesday. The Arkansas Department of Finance and Administration said the state’s net available revenue for the fiscal year that ended on Friday totaled nearly $7.2 billion. The state’s individual income taxes came in below last year’s …

Arkansas Gov. Sanders signs $124 million tax cut into law
1 year, 8 months ago

Arkansas Gov. Sanders signs $124 million tax cut into law

Associated Press  

Sarah Huckabee Sanders on Monday signed into law a measure cutting individual and corporate income taxes in Arkansas by $124 million a year. Sanders signed the bill she and legislative leaders backed that will cut the top individual income tax rate to 4.7% from 4.9%. Lawmakers last week sent Sanders the tax cut legislation, one of the last remaining items …

Arkansas lawmakers approve $6.2B budget, wrap up session
1 year, 8 months ago

Arkansas lawmakers approve $6.2B budget, wrap up session

Associated Press  

— Arkansas lawmakers approved a proposed $6.2 billion budget and an overhaul of the state’s sentencing laws on Friday as they wrapped up an 89-day legislative session that’s been marked by approval of Republican Gov. The Legislature this week approved a separate bill tapping into the state’s surplus for several needs, including $330 million for new prison space and $300 …

Arkansas lawmakers approve $124 million income tax cut plan
1 year, 8 months ago

Arkansas lawmakers approve $124 million income tax cut plan

Associated Press  

— Arkansas lawmakers on Wednesday approved a plan by Republican Gov. Sarah Huckabee Sanders and legislative leaders to cut individual and corporate income taxes by $124 million a year. The bill, which now heads to Sanders’ desk, also cuts the top corporate income tax rate to 5.1% from 5.3%. “The more we cut income taxes, the heavier the burden to …

Arkansas Gov. Sanders, lawmakers call for $124M tax cut plan
1 year, 8 months ago

Arkansas Gov. Sanders, lawmakers call for $124M tax cut plan

Associated Press  

Sarah Huckabee Sanders and legislative leaders on Thursday called for cutting income taxes by $124 million as they near the end of this year’s legislative session. The tax cut proposal calls for cutting the state’s top individual income tax rate from 4.9% to 4.7% starting this year. “Arkansans will feel this tax relief immediately, and I don’t think it could …

Mississippi tax cut bills stall despite GOP leaders’ push
1 year, 10 months ago

Mississippi tax cut bills stall despite GOP leaders’ push

Associated Press  

— Tax relief proposals favored by Mississippi Gov. But a group of lawmakers is concerned about passing another income tax cut ahead of November’s legislative elections, Lamar said. “Coming off the heels of last year’s income tax bill, and this being an election year, there are a few that would just prefer to wait a little longer before making further …

Vos wants ‘significantly’ more than $3 billion in tax cuts
2 years ago

Vos wants ‘significantly’ more than $3 billion in tax cuts

Associated Press  

MADISON, Wis. — Wisconsin Assembly Speaker Robin Vos said Friday he wants to cut taxes by “significantly” more than $3.4 billion in the next state budget, while remaining coy about how he wants to address major issues such as funding for schools and local governments. One possibility they’ve discussed is using 1% of the state sales tax to replace shared …

Massive Arizona income tax cut going into full effect
2 years, 2 months ago

Massive Arizona income tax cut going into full effect

Associated Press  

PHOENIX — A massive Arizona income tax cut that mainly benefits the wealthy championed by GOP Gov. The flat tax plan eliminates the state’s old graduated income tax scale, which started at 2.59% and had a maximum tax of 4.5% for income over $159,000 a year for a single person. “A household with $70,000 a year gets a $58 annual …

Missouri lawmakers pass bill to cut income taxes
2 years, 2 months ago

Missouri lawmakers pass bill to cut income taxes

Associated Press  

— Missouri lawmakers on Thursday gave final approval to an income tax cut that Gov. The Republican-led Missouri House voted 98-32 in favor of the bill, which would cut income taxes from 5.3% to 4.95% beginning next year and phase in additional cuts until the rate hits 4.5%. The roughly $1 billion measure also eliminates the lowest tax bracket, meaning …

Arkansas lawmakers taking up tax cuts in special session
2 years, 4 months ago

Arkansas lawmakers taking up tax cuts in special session

Associated Press  

— Arkansas lawmakers are meeting this week for a special session on tax cuts and school safety grants that’s been spurred by the state sitting on a $1.6 billion surplus. Asa Hutchinson and other Republicans are backing that would accelerate individual and corporate income tax cuts lawmakers approved last year. Hutchinson and GOP leaders have said they’re not worried about …

Nebraska lawmakers approve $900 million tax cut measure
2 years, 8 months ago

Nebraska lawmakers approve $900 million tax cut measure

Associated Press  

— Nebraska lawmakers approved a nearly $900 million income and property tax cut package on Thursday and sent it to Gov. The measure that won final approval in the Legislature would drop the top individual and corporate income tax rates to 5.84% by 2027. The corporate income tax cut was especially contentious, with supporters portraying it as necessary to attract …

Mississippi governor signs state’s largest income tax cut
2 years, 8 months ago

Mississippi governor signs state’s largest income tax cut

Associated Press  

— Mississippi residents will pay lower income taxes in coming years as the state enacts its largest-ever tax cut. Supporters say a significant tax cut could spur economic growth and attract new residents to Mississippi, which was one of three states that lost population during the decade before the 2020 census. Opponents say reducing the income tax would mean less …

Mississippi lawmakers pass largest-ever state income tax cut
2 years, 8 months ago

Mississippi lawmakers pass largest-ever state income tax cut

Associated Press  

— Mississippi, one of the poorest states in the nation with perpetually underfunded schools and struggling rural hospitals, had its largest-ever tax cut passed by lawmakers Sunday. The Republican-controlled state House and Senate voted by wide margins to pass a bill that would reduce the state income tax over four years, beginning in 2023. Opponents say reducing the income tax …

Indiana governor endorses big cuts in income, business taxes
2 years, 9 months ago

Indiana governor endorses big cuts in income, business taxes

Associated Press  

INDIANAPOLIS — Indiana Gov. The governor’s proposal, however, would slow walk a cut in the state’s current individual income tax rate of 3.23% to 2.9% over much of the decade. Holcomb said he expects that trend of revenue growth will continue and “that the time is now to act on a tax plan that gives back to our growing business …

Mississippi Senate advances 1 tax cut plan; another awaits
2 years, 10 months ago

Mississippi Senate advances 1 tax cut plan; another awaits

Associated Press  

— The Republican-controlled Mississippi Senate voted 40-11 Wednesday to pass a bill that would cut hundreds of millions of dollars in state revenue by phasing out part of the income tax and reducing the sales tax on groceries. Legislatures in several states are considering tax cuts this year, including South Carolina, where a bill to reduce the income tax received …

Prospects for Indiana tax cuts boosted by governor’s support
2 years, 10 months ago

Prospects for Indiana tax cuts boosted by governor’s support

Associated Press  

INDIANAPOLIS — Indiana legislators pushing for significant tax cuts are now getting some support from Gov. The governor has sided for months with state Senate Republican leaders reluctant to embrace major tax cuts, citing uncertainty about the economy despite recent big growth in state tax collections that led House Republicans to push a plan for broad business and individual tax …

Indiana tax cut plan hits wall with state Senate opposition
2 years, 10 months ago

Indiana tax cut plan hits wall with state Senate opposition

Associated Press  

INDIANAPOLIS — The prospects for major Indiana tax cuts dimmed further Tuesday as a leading state senator said he and other senators were “entrenched” in first paying down state debts. That comment came as the Senate’s tax committee stripped provisions from a House-endorsed bill that would have potentially cut more than $1 billion a year in various business and individual …

Revenue windfall pushes states to consider range of tax cuts
2 years, 10 months ago

Revenue windfall pushes states to consider range of tax cuts

Associated Press  

— Soaring tax revenue and billions in pandemic aid from the federal government have left many states with an unusual problem — too much money. “States have more money than they can realistically and sustainably spend,” said Jared Walczak, vice president of state projects at the Tax Foundation, a Washington-based think tank that advocates for tax policies fostering growth. Walczak …

Arkansas governor delays plans for session on tax cuts
3 years, 2 months ago

Arkansas governor delays plans for session on tax cuts

Associated Press  

Asa Hutchinson on Tuesday backed off plans to call the Legislature back to the Capitol next week to take up income tax cuts as he continued negotiating with lawmakers on how much to reduce. The Republican governor delayed the special session he expected to call for the income tax cut proposal, which he said would cost the state $321 million …

Arkansas session marked by culture wars, coronavirus fights
3 years, 7 months ago

Arkansas session marked by culture wars, coronavirus fights

Associated Press  

— The 108-day Arkansas legislative session that wrapped up last week was dominated by culture war issues and the coronavirus pandemic, but lawmakers took up a long list of other items, including voting law changes, an increase in teacher salaries and tax cuts. TAX CUTS AND BUDGET The $5.8 billion budget lawmakers adopted for the coming year includes increases in …

Treasury says state tax cuts OK if separated from virus aid
3 years, 9 months ago

Treasury says state tax cuts OK if separated from virus aid

Associated Press  

— Responding to concerns from state officials, the U.S. Treasury Department said Wednesday that states can cut taxes without penalty under a new federal pandemic relief law — so long as they use their own funds to offset those cuts. Republican attorneys general from 21 other states wrote to Treasury Secretary Janet Yellen seeking clarification on the prohibition, which they …

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