Arkansas Gov. Hutchinson Signs $50 Million Lower Income Tax Cut
Gov. Asa Hutchinson (R-AR) signs low income tax relief. (photo credit: Governor's Office) |
The tax cut signed into law today represents Governor Hutchinson’s second round of reductions to the state income tax. While Hutchinson’s first tax cut targeted middle income levels, his second round of cuts focuses on the state’s lower income levels by providing tax relief to Arkansans who earn less than $21,000 annually.
Governor Hutchinson issued the following statement:
“While I know some were hoping for much larger tax cuts, it is clear that this is the most responsible and conservative reduction that we could make at this time. I look forward to working with the legislature and the task force to identify how we can responsibly lower the burden on Arkansans and make us more competitive with our surrounding states.”
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