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House urges Congress to extend Tax Cuts and Jobs Act provisions
Summary
The Arkansas House adopted a concurrent resolution urging Congress to permanently extend provisions of the 2017 Tax Cuts and Jobs Act, citing potential average tax increases for Arkansas families if Congress does not act.
The Arkansas House adopted House Concurrent Resolution 1002 urging the United States Congress to permanently extend provisions of the Tax Cuts and Jobs Act of 2017.
Representative Marcus Ray, sponsor of the resolution, said the law delivered “massive and historic tax relief” and listed changes including a doubled standard deduction, a larger child tax credit and lower tax rates for individuals and businesses. Ray warned that many individual provisions of the 2017 law are scheduled to expire at the end of the year unless Congress extends them and said that would amount to “a massive tax increase,” estimating the average Arkansas family could face about $1,500 in additional taxes next year if Congress does not act.
The resolution was explained by Representative Ray and then put to a voice vote. The Speaker announced, “The ayes have it,” and the House recorded the resolution as passed.
The resolution urges Congress to extend the Tax Cuts and Jobs Act; it is a statement of the General Assembly’s preference and does not change state law or tax administration.
