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Arkansas House passes income tax cut, lowering top individual rate to 3.7% after floor debate
Summary
The Arkansas House approved House Bill 1,001 to cut top personal and corporate income tax rates following floor debate that split lawmakers 79-17, with opponents arguing the revenue would be better used for maternal health, food assistance and rural hospitals.
The Arkansas House passed House Bill 1,001 on a roll call vote, 79 ayes to 17 nays, approving a reduction in the top personal income tax rate to 3.7% and the corporate rate to 4.1%. Representative Eves, sponsor of the measure, framed the bill as broad-based relief for working Arkansans and a continuation of decade-long tax reductions.
Representative Eves told colleagues the measure ‘‘lowers the top personal income tax rate down to 3.7, and the corporate rate down to 4.1,’’ and said the cumulative tax reforms implemented over the past decade have left roughly $1,000,000,000 a year in taxpayers’ pockets and will affect about 1,100,000 Arkansans. He…
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