Gov. Asa Hutchinson touted his proposal to cut the state’s top individual income tax rate for new residents, called for reducing the used car tax, and said his new budget includes a $240 million surplus during a speech at the Arkansas State Chamber of Commerce/Associated Industries of Arkansas’ Annual Meeting Tuesday.
Hutchinson said his budget calls for reducing the top individual income tax rate for new residents to 4.9% for five years. Doing so would attract tech and manufacturing talent and also retirees.
Arkansas Governor Touts Tax Cut, Budget Surplus In State Chamber Speech
Gov. Asa Hutchinson touted his proposal to cut the state's top individual income tax rate for new residents, called for reducing the used car tax, and said his new budget includes a $240 million surplus during a speech at the Arkansas State Chamber of Commerce/Associated Industries of Arkansas' Annual Meeting Tuesday.