Arkansas lawmakers wrap up special session, pass AGFC funding and tax cuts
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LITTLE ROCK, Ark. – After three days at the state capitol, lawmakers have wrapped up the special session and say more money is coming back to the pockets of many Arkansans soon.
The first major takeaway from the session is that Arkansans will likely be getting personal income tax cuts based on their salary and homestead property tax credits.
Arkansas Gov. Sarah Huckabee Sanders touts economic opportunity at end of special session
Lawmakers said the personal income tax rate has been brought down to 3.9% for those making more than $25,000 a year. That amounts to nearly $500 million in tax cuts for the state of Arkansas, affecting more than 1.1 million people, according to the governor.
Additionally, lawmakers say Arkansas property owners will get $500 off their next tax primary residence tax bill through the homestead property tax credits.
“With household staples like milk, eggs and bread up over double digits the past three years, these savings are more important than ever before,” Gov. Sarah Huckabee Sanders said.
As for Arkansans making less than $25,000 a year, Sanders pointed to the 3.4% tax rate this group already has.
“Our goal should never be to look at the minimum, but how to move those people in that bottom area to make more money,” she said. “That’s why we focus so much on education, workforce development and we’re going to continue to look to responsibly phase out the state income tax as a whole.”
Tax cuts, Arkansas Game and Fish Commission funding take priority in June special session
Sanders also pointed to the state cutting taxes three times in 18 months so far, balancing the budget, and only growing spending by 1.76%, compared to the usual 3% average.
The other takeaway is approved funding for the Arkansas Game and Fish Commission. After lawmakers could not come to an agreement on the salary for the director during the last fiscal session, they decided on a $170,000 annual salary during this special session.
In the final hour of session on the House floor Wednesday, lawmakers passed a resolution that urged Arkansans to vote a certain way on an amendment that could go on our November 2024 ballots. The resolution is meant to reflect the majority of the legislature’s stance against the constitutional amendment looking to provide abortion access in Arkansas.
That petition is still gathering signatures but could go on Arkansas voters’ ballots in November 2024.
Despite the resolution passing, Democrats say it shouldn’t have been up to legislators to try and sway something that’ll ultimately be the voter’s decision.
Arkansas House passes resolution opposing proposed abortion amendment
Sanders said it’s another opportunity to remind people where Arkansas stands on the issue.
“I’m never going to apologize for being pro-life,” she said. “Arkansas is the most pro-life state in the country, I’m proud of that fact. We need to look for every opportunity we can to solidify our position there.”
Sanders added that there are no plans for another special session within the year at this point, though phasing out the state income tax completely remains a top priority moving forward.
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