Gov. Asa Hutchinson has proposed tax cuts as part of his overall budget proposal for the fiscal year that would start in July.
Back up: Does the governor make decisions on taxes? Not completely. The governor submits a proposed budget including his ideas for tax cuts to the General Assembly (the state legislature).
The assembly considers his ideas while drafting bills authorizing state agency spending and proposing tax cuts. The assembly is not obligated to take up the governor’s proposals.
Then whatever bills the assembly passes head to Hutchinson for approval or veto.
So what is Hutchinson proposing?
About $50 million a year in income-tax cuts for low- and moderate-income Arkansans. He didn’t specify how tax rates would change nor which incomes would be included.