Ark. Senate approves $140M tax cut package - KATV - Breaking News, Weather and Razorback Sports

Ark. Senate approves $140M tax cut package

Posted:

By ANDREW DeMILLO
Associated Press

LITTLE ROCK (AP) - The Arkansas Senate has approved a package of tax cuts that is estimated to eventually cost the state about $140 million a year.

The Senate on Thursday passed a dozen bills that included proposals to cut the state's taxes on income, capital gains and manufacturers' utility bills. The proposals also include tax cuts for armed service members and some farmers. The measures now head to the House.

The proposals are expected to cost the state $10.7 million in the coming fiscal year and will eventually cost the state about $140 million a year.

Senators also approved Gov. Mike Beebe's proposal to cut the grocery tax if the state's bond obligations for school desegregation payments decrease by $35 million over a six-month period.

COMPLETE COVERAGE
Beebe Proposes Trigger to End Grocery Tax (Jan. 15)
Ark. lawmakers: No rush on tax cut proposals (Jan. 20)
Arkansas House speaker backs $150M in tax cuts (Feb. 26)
Ark. panel approves tax cut for farm structures (March 14)
Tax exemption for farmers passes Arkansas House (March 18)
Ark. leaders say they're closer to tax cut deal (March 20)
Ark. House panel advances income tax cut bill (March 26)
Beebe: Problem with tax cuts' effective dates (March 27)
Income Tax cuts in Arkansas (April 2)
Ark. House panel OKs tax cut for manufacturers (April 2)
Ark. House speaker amends capital gains tax bill (April 4)
House approves conditional cut in Ark. grocery tax (April 16)
Arkansas House approves package of tax cut bills (April 16)

Ark. Senate committee advances tax cut bills (April 18)
Ark. Senate approves $140M tax cut package (April 19)

  • Most Popular StoriesMost Popular StoriesMore>>

  • Lake Nimrod Beaches Closed

    Lake Nimrod Beaches Closed

    Thursday, July 24 2014 7:46 PM EDT2014-07-24 23:46:28 GMT

    The U.S. Army Corps of Engineers has closed all the beaches on Lake Nimrod while a possible algae outbreak is investigated.  One Pulaski county family thinks the problem could be something else.

    More >>

    The U.S. Army Corps of Engineers has closed all the beaches on Lake Nimrod while a possible algae outbreak is investigated.  One Pulaski county family thinks the problem could be something else.

    More >>
  • 20-year-old Stuttgart shooting victim dies

    20-year-old Stuttgart shooting victim dies

    Thursday, July 24 2014 12:17 PM EDT2014-07-24 16:17:09 GMT
    Community members held a prayer vigil for Daniel Ruffin after he was shot in the chest while walking his dog on Tuesday night. Ruffin died Wednesday night after succumbing to his injuries. More >>
    Community members held a prayer vigil for Daniel Ruffin after he was shot in the chest while walking his dog on Tuesday night. Ruffin died Wednesday night after succumbing to his injuries.
    More >>
  • Man calls Arkansas police to turn himself in

    Man calls Arkansas police to turn himself in

    Thursday, July 24 2014 1:54 PM EDT2014-07-24 17:54:39 GMT
    Police say a man called officers to turn himself in after a woman's body was found in a western Arkansas home.More >>
    Police say a man called officers to turn himself in after a woman's body was found in a western Arkansas home.More >>