Tax cut imperils state budgets | Arkansas Blog

Wednesday, March 2, 2011

Tax cut imperils state budgets

Posted By on Wed, Mar 2, 2011 at 7:28 AM

A tax cut signed by President Obama allows, in the name of stimulus, a huge tax cut for business. They may expense all of new equipment purchases this year, rather than over a period of years. This change could cost 19 states — not Arkansas — that automatically index income taxes to federal law some $5.3 billion. A big loss in tough times.

The full report details how other states, including Arkansas, could lose money — in our case up to $200 million — if they adopted the federal provision, as they sometimes do. I'm guessing the governor won't be suggesting this.

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