Tax shoe to drop | Arkansas Blog

Monday, March 23, 2009

Tax shoe to drop

Posted By on Mon, Mar 23, 2009 at 8:16 AM

Interesting prediction in House Speaker Robbie Wills' newsletter today. Maybe the tax cutting on groceries and manufacturers was overly optimistic?

Budget - We are expecting a revision in the balanced budget numbers this week.  Yes, we got a revised forecast update earlier this month that showed things holding steady.  Yes, we acted in good faith on that estimate and cut the grocery tax and sales tax on energy for manufacturers.  However, we expect the new revision to be pessimistic, to say the least.  I’ll have more to say on this subject when the Department of Finance & Administration releases the numbers later this week.





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