Arkansas governor proposes $50M in tax cuts in new budget

Finance

LITTLE ROCK, Ark. (AP) — Arkansas Gov. Asa Hutchinson is proposing $50 million in tax cuts in a nearly $5.9 billion budget plan for the coming fiscal year.

Hutchinson on Tuesday detailed his budget proposal to lawmakers ahead of the legislative session that’s set to begin in January.

The Republican governor discussed his proposal in the middle of a coronavirus pandemic that has claimed more than 2,100 lives in the state.

He spoke remotely to lawmakers, who wore face masks as they sat behind plexiglass partitions. Hutchinson’s proposal includes reducing income taxes for new residents for five years.

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