Taxes

Wednesday, August 10, 2016

Wednesday, August 10, 2016 - 07:07:00

Voters across state say 'tax me more'

In a scattering of special elections across Arkansas yesterday, voters were amenable to tax increases, including a big property tax vote for the Fayetteville public library.

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Thursday, June 2, 2016

Thursday, June 2, 2016 - 09:50:00

State revenue in May a bit ahead of last year

Those hoping for big surpluses to pay for special interest state initiatives can't find great encouragement in the state tax take for May.

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Wednesday, March 9, 2016

Wednesday, March 9, 2016 - 16:47:00

The slow squeeze of state services in the era of Arkansas's Republican tax cuts

Arkansas Advocates writes on the governor's budget. Things could be worse, fiscally speaking. There's one big reason they're not: Obamacare.

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Tuesday, February 2, 2016

Tuesday, February 2, 2016 - 09:56:00

State predicts $35.9 million surplus for FY 2016, rise in revenue in FY 2017

Fiscal year 2016 is expected to see a 0.5 percent decrease in net available revenue compared to FY 2015. In FY 2017, the state expects net available revenue to increase by 2 percent above FY 2016.

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Tuesday, December 29, 2015

Tuesday, December 29, 2015 - 11:41:00

How the 'income defense industry' is creating a parallel tax system for the wealthiest Americans

The New York Times documents the evolution of what is effectively a parallel tax system for the wealthiest Americans, who now pay a far smaller percentage of their incomes, on average, than they did twenty years ago. In 1992, the 400 highest earners in the U.S. paid about 27 percent of their income; in 2012, the figure was around 17 percent.

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Wednesday, July 29, 2015

Wednesday, July 29, 2015 - 13:46:00

Report: State income tax cuts a bad idea

This report will go straight to the trash should any of the ruling Republicans see it, but for the record from the Brookings Institute — state income tax cuts are of little value in spurring economic growth. Where they've been tried and failed, the unavoidable need to raise revenue has produced — not a return to a progressive income tax — but regressive taxes that hit poor people hardest.

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Friday, April 24, 2015

Friday, April 24, 2015 - 06:59:00

The tax cut myth: Aiding the wealthy doesn't create jobs

A new research paper says tax cuts can create jobs, as long as the tax cuts target lower income people. Arkansas has turned that idea on its head.

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Wednesday, March 25, 2015

Wednesday, March 25, 2015 - 15:09:00

Capital gains restoration sails through House

The Arkansas House today easily passed Rep. Matthew Shepherd's HB1402 to restore all of a 2013 capital gains tax, which were somewhat rolled back as part of Gov. Asa Hutchinson's income tax cut bill.

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Wednesday, March 25, 2015 - 06:45:00

Fresh bread lovers of the world, unite! You have nothing to lose but your grains!

We’ve entered the WTF portion of bill filing. Here’s a strange one: a bill sponsored by Rep. Andy Davis to exempt baked goods sold for “off-premises consumption" from being subject to the A&P tax (the hamburger tax). It passed out of Revenue and Tax yesterday. Huh?

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Tuesday, March 24, 2015

Tuesday, March 24, 2015 - 15:43:00

GOP opposition to tax relief for the poor leads to nonsense arguments

Republicans really, really don't want to give tax relief for the poor, but don't worry, they have some half-baked arguments as cover.

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Tuesday, March 24, 2015 - 11:46:00

Bill to provide tax credits to Arkansas's working poor fails to advance

Rep. Warwick Sabin's bill to offer tax credits to low-income, working Arkansans failed to advance from the House Committee on Revenue and Taxation on a voice vote this morning. The Working Families Opportunities Act would have corrected one of the great injustices of this legislative session: With the restoration of the capital gains tax cut and Gov. Hutchinson's middle-class tax cut, everyone is getting a tax cut except for the working poor.

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Tuesday, March 24, 2015 - 05:48:00

House Revenue and Tax committee to take up bill offering tax relief to working poor

The House Committee on Revenue and Taxation will take up Rep. Warwick Sabin's bill this morning to offer tax credits to low-income Arkansans. The Working Families Opportunities Act (WFOA) would give additional relief to 279,000 working Arkansans who already qualify for the federal Earned Income Tax Credit: the state would fund a tax credit amounting to an additional 1.25 percent of the EITC amount received in 2016, 2.5 percent in 2017, and 5 percent in 2018.

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Monday, March 9, 2015

Monday, March 9, 2015 - 07:17:00

Will the working poor get a tax break? Everyone else will.

The final weeks of the legislative WILL include a full restoration of the capital gains tax cut, including the windfall exemption given the very richest taxpayers.

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Friday, February 6, 2015

Friday, February 6, 2015 - 13:49:00

Hutchinson signs middle-income tax cut bill, promises more in the future

Gov. Asa Hutchinson signed his promised tax cut package into law this morning with a bipartisan group of dozens of legislators in attendance. It caps quite a week for the governor, in which the two biggest pieces of legislation the session is likely to see — the tax bill and the private option — were approved by the General Assembly by wide margins and sent to his desk.

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Tuesday, January 27, 2015

Tuesday, January 27, 2015 - 10:49:00

House committee amends Hutchinson's tax bill to reinstate capital gains tax cut

A House committee today amended Gov. Asa Hutchinson's income tax bill to reinstate a capital gains tax cut he proposed to repeal, money on which he based his earlier budget presentation.

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Friday, January 23, 2015

Friday, January 23, 2015 - 11:59:00

Arkansas Advocates: Hutchinson tax plan omits poorest workers

Arkansas Advocates for Children and Families has praise for parts of Gov. Asa Hutchinson's tax cut proposal, but objects to the omission of lowest paid workers from benefits.

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Wednesday, January 21, 2015

Wednesday, January 21, 2015 - 10:40:00

Senate committee approves tax cut bill with capital gains break repeal and break for two-income couples

Gov. Asa Hutchinson's $100 million income tax bill came out of Senate committee this morning with an amendment on the capital gains tax cut passed in 2013. Note, too, a break Hutchinson's plan contains for working couples against higher-income families with single wage earners.

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Thursday, January 15, 2015

Thursday, January 15, 2015 - 09:45:00

Today at the Capitol: Light work includes amendment to lottery legislation

A light legislative schedule today includes an amendment to a bill to abolish the existing Lottery Commission and convert it to an agency under the governor's control.

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Thursday, January 15, 2015 - 06:50:00

The poor hit harder by local taxes; bottom 40 percent left out in Asa tax cut

The poorer you are, the harder state and local tax burdens hit Arkansas taxpayers. And Gov. Asa Hutchinson's tax-cut plan won't do much to ameliorate that, giving no benefits at all to the bottom 40 percent of Arkansas taxpayers.

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Tuesday, January 13, 2015

Tuesday, January 13, 2015 - 09:37:00

The history of Ark. tax cuts: All pleasure, little political guilt

Ernest Dumas, who's been covering Arkansas governors for five decades, provides historical context for the $100 million income tax cut that new Gov. Asa Hutchinson seems certain to push through a friendly legislature in the opening days of the 2015 legislative session. History repeats, Dumas writes.

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